The good news is that it is still there and open for trade. The bad news is that it still looks like they have not had any new stock and could well just be treading water until all hope has gone. They did have a reasonable stock of Flames of War and Forged In Battle though nothing like the full ranges.
They also had a sale table that had a great deal of kit on either at £1 or Make Me An Offer which included part painted minis and lots of rule books and supplements. I bought myself a couple of packs of Forged in Battle infantry packs for the 3D Sniper Project. I pick up the bases that I commissioned Warbases to make for me. I also got four of the Field of Glory Renascence army lists at £2 each and Check Your Six rules for just £1. The 15mm figs were the usual RRP less 10% so I was rather pleased with my haul.
Stock wise though they are looking really thin, Vallejo are extremely low, and much of what they do have is not much more than one item deep. I can't see how they are making it pay day to day and I doubt they are building any revenue up to purchase new stock. I would like to be proven wrong but I can't see how they can come out the other side. Again I looked for signs in the window or in the store declaring that they had gone into administration (as Maelstrom) but nothing. I still think they will be unable to just dump their debts and re-surface now owning the stock as a separate company. They launched Eye of the Storm (Mansfield) Limited on the 20th of June 2012 but the stock that was originally owned by Maelstrom is the exact same stock Maunsfeld is now selling.