I’m not sure about that part - I thought resort airline check in was just the functional name and it was operated/staffed by Bags, Inc. They still advertise a resort airline check in service on their website. Bags, Inc. was bought by a public company - SP+ - in 2018. SP was taken private earlier this year by Metropolis, which looks like some kind of private equity shop.
No doubt the Bags, Inc. division was probably in terrible shape during Covid - being at the heart of the travel industry, their business (not just Disney) had to be in shambles, everyone laid off, etc. Who knows if they could have even fulfilled their contract with Disney if Disney had wanted them to. The ‘they went bankrupt’ comment got repeated constantly around here, but they’re very much still functioning. Our friends at Disney just decided to not pay for it and let us drag our own bags.