No, they definately went out of business. In fact there are more than a few people that are still trying to get a refund for custom suits they paid for and of course did not get when the company went under.
There is a guy that worked for them when they were in business, and now he is doing repairs on them and actually has replacement parts, but he is not affiliated with the old owners.
And the shell and liner dry suit is the one that they made that I thought was a bad idea, but never dove it so I will take your bud's word for it.