> What would happen if this happened to an employer's bank in Indiana?
Literally the same thing would happen, and people wouldn't be making such a big deal about it being a handout to greedy convenience store owners who didn't perform exhaustive diligence on the bank up the street.
What would happen if this happened to an employer's bank in Indiana?
Your company's assets don't exist any more and you're insolvent. US bankruptcy protection is very generous, apply for it and try and to regroup.