From www.salea.com.au: Company liquidation and voluntary administration are distinct processes for insolvent businesses in Australia, each with different goals and outcomes.

Voluntary administration focuses on rescuing or restructuring a business, allowing for potential recovery under the guidance of an appointed administrator, whereas liquidation involves winding up the company and ceasing operations, with a liquidator assigned to sell assets and pay creditors.

Choosing between these options depends on the financial viability of the business, and seeking expert advice is crucial to navigate these complex decisions effectively.