I'm making the assumption there is a dedicated group of users that wishes to see the site continue.
Financing can be done through a bank loan, private lenders, or escrow account. If it wasn't against some sort of investor protection idiocy (in the US), they could probably hold an auction for shares, turn it over to a board voted in by the share holders and then get on with the business of running the business.
Organization of the community I would imagine could work to something like how StackOverflow operates in it's community aspects.
