Yes, if nobody buys the company, it goes bankrupt and will be resetted, so the company land will be freed up.
And indeed, it's a loss-making company and besides that it very likely doesn't serve your companies' goal, because it doesn't contribute to the growth of your town. So I don't see any reasons to buy it, although I can see that someone would like it if they have the money anyway, but on CB I'll advise against it, because of this bug.