Out of curiosity, what exactly are the people who are upset in this thread even upset at?
If nothing else, 'cause they're family.
If you were at a convention and saw people openly ridiculing a cosplayer from an obscure series you like, how would you react? Would you join in and start mocking them for being ridiculous because the buttons are at least 0.5 cm larger than they ought to be, and their wig is 6 inches too short and sky-blue when it ought to be more of an aquamarine, not to mention that they're crying when the character is supposed to be so
genki and cheerful they make your teeth hurt? Or would you feel bad for them because even if they effed up the wig, they obviously cared about a series you also care about but most people have dismissed as not worth their time? Maybe even defend them because you recognize that they at least tried, even though they made mistakes?
That's how a lot of us feel about the publishers who do/did make an honest effort to bring over anime and manga without "improving" it to death for the average American. Even when we agree that the founder should've been a lot less self-indulgent, or broke our hearts by dumping Seikai no Senki halfway through... they still gave it a real try. And that's a lot more than you can say for their early contemporaries, who without TP's influence might not have ever tried to make it more affordable (albeit at the cost of newsprint-quality paper), stopped flipping the artwork, started keeping honorifics instead of awkward approximations like "Ranma-honey", stopped effing with plotlines out of fear that someone would be offended, or even so much as tried to bring light novels over. God knows they
did make some awful mistakes... but we still share a bond with them, because they care about the same things we care about even though most people dismiss it as perverted kids' stuff.
Beyond the "family" aspect, there's also the stark recognition that manga and anime are dying back in the US, and it's a bad sign when yet another of the leaders (ADV, Del Rey, Tokyopop) can't even keep their doors open - let alone try to acquire new titles. Some of the most popular licenses will probably be rescued eventually... but there's no guarantee. And a lot of them, no one will ever bring to the US again.
Thank you for asking this question - it helped me clarify, at least for myself, why it mattered. That doesn't mean it has to matter to anyone else, but at least now I think I understand a little better why I was so sad to see this news.