What happens with the intellectual properties of a company when they close down?

Question

Let’s say The Walt Disney Company somehow went bankrupt and closed down and all movies, plushies and toys stop being made.
 
What happens with the things that already exist? Will the ideas enter the public domain or will they be given to someone? Could they be used and distributed freely? If not, who will manage them?

In: Other

Answer 1

It gets sold off/liquidated, like physical assets (to take your example further, Disneylands, corporate headquarters, and other things like that).