The Federal Government was asked to help "bail out" Clive Palmer's struggling Queensland Nickel refinery, Resources Minister Josh Frydenberg says.

Key points: The company was placed into voluntary administration on Monday, days after 237 workers were sacked

The company was placed into voluntary administration on Monday, days after 237 workers were sacked Administrators said Monday the company was not in a position to pay out workers' entitlements, union says

Administrators said Monday the company was not in a position to pay out workers' entitlements, union says Political future looks grim for the Palmer United Party, ABC election analyst Antony Green says

The company was placed into voluntary administration on Monday, just days after 237 workers, about a third of the workforce, were sacked.

The Yabulu refinery near Townsville will continue to trade while its finances are reviewed.

Mr Palmer, the federal Member for Fairfax, has not addressed the media since Queensland Nickel went into voluntary administration.

However this morning Mr Palmer tweeted: "Labor and the Liberals should stop attacking Queensland Nickel and media should focus on issues".

Documents obtained by the ABC on the weekend showed Queensland Nickel had donated more than $21 million to the Palmer United Party (PUP) over the last two years.

Mr Palmer told the ABC on Sunday he blamed the company's financial woes on low nickel prices, and said the State Government would not guarantee a $35 million loan to keep it afloat.

Mr Frydenberg said Mr Palmer needed to "come clean" with his workers at Queensland Nickel.

He said the Federal Government was also asked for a loan guarantee to help the refinery, but refused.

"We're not in the practice of bailing out private companies," he said.

"That's not a good precedent ... but we do stand ready to help the workers where we can."

Mr Frydenberg told the ABC that while he was not in a position to ask Mr Palmer to leave politics, the Fairfax MP did need to face his constituents.

"He's got plenty of questions to answer, especially about those political donations that that company made," he said.

Fears sacked workers won't get entitlements

Concern is also growing that sacked workers from the Queensland Nickel refinery and its creditors will not be paid their owed entitlements.

Administrators met with refinery workers yesterday and told them the company was not in a position to pay entitlements to those who were sacked.

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The State Government has organised community information sessions to help link sacked staff with support agencies, including Centrelink.

Australian Workers Union (AWU) secretary Ben Swan said the situation was a nightmare for workers.

"There are people who have made substantial commitments even in the last couple of months in terms of their livelihoods who are now going to be facing financial ruin," he said.

Mr Swan said the company was $70 million in debt.

Townsville Chamber of Commerce president Troy Popham said there was much anger and disappointment, given the millions of dollars the company donated to the PUP.

"To then go and take funds out of an already struggling business, that was their choice," he said.

"I'm sure that [about $200,000] could have been used to assist in the payments to creditors and employees over this next period of time."

Federal Opposition Leader Bill Shorten said Mr Palmer's refinery needed to clarify what would happen to the entitlements of sacked workers.

Mr Shorten said he would not support government subsidies to help keep the refinery afloat.

"Wary about the taxpayer bailing — not just Mr Palmer — but any business going bad," he said.

Mr Shorten said it was vital the interests of workers were protected.

"What I do think is that it's important the position of the workers are clarified," he said.

"What I see when a company gets into trouble is quite often the directors move on, the senior management move on, but the workers who work for the company are left with nothing.

"Now I don't think that should be the case here."

Lazarus queries decision not to offload assets to bail out refinery

Former PUP senator Glenn Lazarus lashed out at his former leader Clive Palmer, saying people had "worked him out".

Senator Lazarus told the ABC he would not be intervening personally with Mr Palmer, but would continue to voice support for former Queensland Nickel workers.

He said Mr Palmer could have offloaded assets to bail out his troubled Queensland Nickel business.

Senator Lazarus said Mr Palmer needed to take responsibility for the situation facing the business.

He said he spent a lot of time discussing Mr Palmer's businesses and assets while he was in the PUP.

"I was certainly privy to what businesses he had, what assets he had - I would have thought that him by offloading some of that and creating some funds may have been able to save their jobs," he said.

Doubts raised about political future of Palmer United Party

Senator Lazarus said he did not know how the money donated to the PUP was spent.

"I don't know the circumstances surrounding the situation the refinery was in at that stage," he said.

Senator Lazarus said Mr Palmer and the PUP had lost its lustre.

"He [Mr Palmer] promised a lot but delivered virtually nothing," Senator Lazarus said.

"There's obviously a reason why Jacqui Lambie, me and Ricky Muir, in a short period of time severed ties with him."

In response to the Senator's comments, Mr Palmer tweeted: "If @SenatorLazarus is so concerned, maybe he should pay back QNI money that got him elected?"

Meanwhile, ABC election analyst Antony Green has raised doubts about the political future of Clive Palmer and the PUP.

"Clive Palmer only just managed to win the Fairfax seat at the last election and that was after an extended recount," he said.

"Given the decline of the party, I'd be surprised ... if he even recontested the seat and if he did so, he would have a really tough job of trying to win."

However, on Sunday Mr Palmer told the ABC he planned to recontest the seat of Fairfax at the next federal election.