Sadly, I wholeheartedly believe that the owners are using the coronavirus as an excuse to close their already-failing company. The company has been in slow-motion dissolution for the better part of a year, and now they're blaming the entire thing on the virus outbreak so that they have a narrative to tell that covers up some of the mismanagement that makes the closure of their company look bad. Now they have an effective smokescreen that shows that the closure was "outside of their control".
I have no doubt that many other companies will take advantage of this opportunity to close without the shame or stigma of having closed a failing company. There is almost no downside to using this as a guilt-free chance to rapidly shut down at a time where employees need stability more than ever.
All of that said, the company was conscientious enough to give us all two weeks' notice, pay out our PTO plans (that might just be required by law, though), and additionally pay out any pending bonuses to employees that had been agreed upon. They certainly didn't have to do all of that (even if some parts are just them following the law), and I appreciate them for taking those particular steps to help all of us transition to new positions.
Luckily, I started looking for jobs nearly a month ago and had begun preparing my resume and materials back in December, so I've already had a good number of interviews and am waiting to hear back about two positions in particular.
I'm keeping my fingers crossed and doing a lot of email refreshing, but if I'm being really honest it seems grim. I've already heard that many other companies are implementing a hiring freeze with the virus outbreak, etc. I can't help but shake the feeling that I should have started applying about a month earlier.