Meadowbank Thistle (formerly Ferranti Thistle) didn't disappear - they changed their name and location (did a franchise move, aka MK Dons) and became Livingstone.
Airdrieonians didn't go to the wall either.
They couldn't pay debts so closed the company and renamed themselves Airdrie United. They then had to start in the bottom division with that name and have now reverted back to Ardrieonians again now that their ten year trading ban has elapsed.
Airdrie were no different from what Rangers done really, except in a smaller scale, although how Rangers were allowed to keep the same name I don't know. It was HMRC who they both owed money to and who filed them both for Bankruptcy