I'm not 100% sure about livingsocial, but wouldn't they refund our money if SS is no longer in business, or if they were to refuse to honor the voucher? I guess that's something to followup with them. If that's the case, it wouldn't be so bad as long as we had enough notice to book elsewhere. As mentioned before, I think it would be worse if it were still accepted, but once there, find out that it's close to closing - that could make for a not so pleasant experience.