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Is there any difference in usage or are they pretty much interchangeable?
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word-choice
What is the difference between 倒産 and 破産?
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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