I got letter from them the officially declare bankruptcy information.
I wouldn't be too worried, they won't go out of business.
The operation will not be affected as stated in the bankruptcy legal document. It does not look like layoff is going to happen. Mostly has to do with repayment plan that needs to be changed, like extended terms, reduction interest rate, and so on. Pretty much like consolidate debts into lower interest rate and lower repayment, maybe forgive some debts.
From what it looks to me, Sorenson used their head and knew they can't survive the new reform without going financial reorganization (AKA Chapter 11 bankruptcy) so that they won't mount any more debts if no action is done sooner. Like "The sooner, the better" so that means the impact probably will go un-noticed.