You only have to look at the company balance sheets to see that from 2005-on stock reduced to such a level that they were by 2009 essentially insolvent ie; the company owed more than that what it had in assets (eg. stock). Assets plummeting and debts soaring just leads to one thing...
Personally I don't think this is 'credit crunch' related, although it probably didn't help matters.
Sad to see another model shop / website go.