If you’re a multinational company with local limited liability entities, “bankruptcy” sounds like a choice. If you’re subsidizing operations across countries with VC money, it just means you stopped the flow of money. You may even get away with leaving some debt/payables in the entity.

Happy to hear otherwise, I’m not a bankruptcy lawyer.

It doesn't say they're bankrupt. It doesn't even say they're insolvent. All it says is that they're ceasing operations and an administrator has been appointed to presumably wind the company down in an orderly fashion.

Bankruptcy can be avoided with money. But:

> In Australia, we have concluded that achieving a sustainable position of leadership in the market is not possible without a disproportionate level of investment which would have highly uncertain returns.

That annoyed me too. Still, it's to be expected. Companies with this sort of business model are dishonest at their core.