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What happens to domain name and website when hosting company closes down?

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Need to know what to do about website. Hosting company has closed down with no warning. What happens now? Is the website and domain name lost?
 
Next time remember to use a more reputable hosting company! Cheap price = bad service.
 
I had this problem with a hosting company because i was looking for cheap hosting,one day the entire server crashed and they lost all my data could not get it back and did not give me a refund.never again will i go for a cheap hosting company pay a little more and get good reliable service.Always keep a backup.
 
Regardless of the cost of the hosting, you still need to keep a personal backup / archive. If you get hacked or make a mistake and don't notice until after the backup has run you are still in trouble even though there is a backup.
 
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