Guarantor responsibility from a possible lease default?

Hi I would like to sorry in advance. I don’t have too much knowledge for the law terms so a lot of things I described below will be in “plain” words. I will try my best to describe the situation I’m facing right now.

I know it’s unusual but my friend’s company signed a commercial lease and I was the guarantor. Due to business poor performance (essentially cannot keep up with the rent) he tried everything to get the landlords consent to his surrender but couldn’t. So he’s thinking of just leave the place and possibly the country.

As a guarantor I am responsible for paying what ever he owes the landlord but I wonder what is the normal “process”? If there is a way I don’t have to pay? Obviously landlord will get the bond first? But that’s my friends money.

I have a house under my name and two cars and some savings. No mortgage. Me, my partner and our kid living in the house right now. If I refuse to pay, eventually will the legal department force us to sell the house or car to pay the landlord? In general how likely will things like this end?

I’ve heard from friends about a similar case where the person pulled out a statement saying that the money he spent on buying the house, cars etc are from his parents and his parents asked him to pay back in later. In that case landlord accepted a surrender because even he was forced to sell the house, he needs to pay his parents back first leaving 0cents on the dollar to the landlords. I wonder if I can have similar statement showing to the landlord so he won’t chase after me but only the bond from my friend?