Buying a website from a company thats gone bust?

Hi,

Another noob. I worked for a company that recently went bust and I was wondering whether you think it would be worth looking into buying their website?

I know its at least 5 years old, its a website that generated good traffic and has a decent page rank.

What I wanted to know is, once a website has been removed what happens to it? who should I contact to make the offer?

Also would all the data be removed, if so, would it still be worth investing?

Thanks

I own several websites from companies that have gone defunct... I just waited until the domain was available and then bought it.

I have not rebuilt those sites in the same manner but rather repurposed the domains taking advantage of the backlinking and the age of the domain but you can usually get the old content at archive.org if you want to rebuild the site close to the same as it was.

Take a look at your favorite registrar (Not Godaddy Please!) and see if it is available... if it is you can usually pick it up for the registration fee alone.