8

Is there any difference in usage or are they pretty much interchangeable?

7

倒産 means "to go bankrupt", that is they can't keep the company in existence because of the company's debts.

If a company go bankrupt, there are three ways that the company's creditors can deal with the company after that.

One of them is 破産. A bankrupt company's all assets are exchanged to money and they are divided among the company's creditors. And the company can't exist.

Source: http://nlab.itmedia.co.jp/nl/articles/1704/28/news010.html

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