Anime News Network is reporting that the North American division of Tokyopop is closing their offices, but continuing their film division and their operations in Europe.
Current manga titles that may go out of print (so pick them up now, unless they go to another publisher) include classics such as "Fruits Basket," "Great Teacher Onizuka," the ".hack" series, "Love Hina," and "Sgt. Frog."
This is kind of disappointing, although the manga and anime worlds have been going into a bit of a decline for awhile. So it's not a shock. But it's disappointing, so hopefully another publisher will pick up these titles for republication. I know that Dark Horse has started picking up certain manga titles for "omnibus editions" (three volumes at a time put together) so hopefully more publishers will follow the lead to preserve these titles.