Work permit invalid when employer goes under?

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Subject: Work permit invalid when employer goes under?
  I just found out yesterday that my employer may not exist in the new year. There´s problems with unhappy/unpaying customers and may employer be sued.

I am assuming that if my employer ceases to exist my work permit for them is invalid. What are the options available to me? Must I leave Canada immediately? Can I stay here (not working) to search for other work and go through the work permit process again? Is the work permit, by any chance, turned into a visitor visa (seems unlikely) in such a case?

So far the company still exists and I am still employed by them and so my work permit is valid but things aren´t looking good. Can anyone give advice?

[16-12-2008,14:02]
[**.10.149.46]
Lisa
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