They do it in a way that is very unprofessional. They should at least send email to the users of this site before they the close it so the users can do whatever they want/need before it is gone. Also what about the users who subscribed? Are they gonna refund? Also.... MY FAVES! THEY ALL GONE NOW!!
"Personal reasons" that they want to keep private? BULL FUCKING SHIT! You OWE it to everyone using the site that you just ripped out from under them rather than keeping something to yourself just so that you feel comfortable. Fuck that, I'd be beating down this guy's door for some answers if I depended on this shit, especially if I was paying money to them.