Picture book about a squirrel and a natural disaster

Growing up, my grandparents had this picture book about a young squirrel who is separated from his mom in the midst of a natural disaster and must make some kind of journey. I'm almost certain said disaster was either a floor or fire, and I think it may have killed his mom. I'm actually not entirely sure why it was marketed to kids, I remember it being pretty sad and scary.

The book had an indigo or purple cover with the squirrel on it, I think in a hot-air balloon. It would have been from the early 2000s at latest.