If they file for bankruptcy, they cannot legally destroy the data. The data is a salable asset, the law requires them to preserve it so that it can be sold and the money returned to creditors. And many of the promises they have given about it's use can and will be broken by the trustees dissolving the company.
The thing you need to consider when you give data to a company is not "will these people misuse this", but "once these guys go bankrupt and sell the data to the highest bidder, can it be misused?". See, for example, how if your company holds a large mailing list, it will typically be sold to a spam operation for a few bucks.
The minimum standard for giving serious personal information, like your DNA, to a company needs to be that the company receives a limited-time license to handle the data for the purposes they need to provide the service, and absolutely nothing more.