Idiotic console hating aside...
This is a sad, sad day for me. Working Designs was always one of my favorite companies. Cosmic Fantasy 2 was the first RPG I played through, and Parasol Stars remains one of my favorite games of all time. Their reworking of Lunar for PSone was fantastic, and Growlanswer was great as well.
On a personal note, a few years ago I wrote for a very small, very humble website. We had few readers to speak of, and not much in the way of experience or publicity. Yet Victor Ireland took the time to do an interview with me, send me a load of product, and his PR rep, Chris, responded to all my inquiries. They were great people, and I hope they get something going again somehow.