The guy will file insolvency & walk away from his debts. Then he'll reopen a new business under the name of his wife/child/cat/etc & be right back in business within 24 hours. He may even "sell" all the old company resources to the new one & not even have to do anything but change the name on the letterhead/payroll/etc.
I wish it were legal to lock them in public stocks & force them to listen to Vogon poetry for the rest of their lives. Let their screams for mercy be a warning to others not to do the same shit.
Oh who am I kidding? Society is too <sarcasm>nice</sarcasm> for that. They'd get a group therapy session in some posh mental hospital & "forced" to join in the happy sing-a-longs to work through their "issues". Fuck that. Bring back the Spanish Inquisition! Release the comfy chairs!