AusBonsai

I picked up a Lilly Pilly Australe the other day, very dry and not looking to good but has taper in the butt. It had been pruned hard at some point but then left alone and got leggy straight shoots all over. The remaining leaves are chewed. It looks to me like something has been having a go at the buds or maybe they just dried out from lack of water but there are new ones there. This sounds like a lost cause but 5 bucks won't hurt the pocket.
I've looped a few branches all ready.
Question is do I leave it alone fertilized it and wait for growth before chasing back leaves or go straight to the stump?

Lily Pilly are generally quite resilient. Mine keep coming back after numerous near death experiences.
They will usually try to bud out as close to the top as possible so if you want lower shoots I would cut back now and wait for buds to pop.
The tree probably can't use fertiliser with few leaves so wait until it shoots then feed those new shoots.

Whoops already gave it a dose of seaweed juice thinking to get it growing first.

Fertiliser now probably won't hurt but is probably wated as sick plants cannot adsorb it or make use of it without healthy leaves.

remove it from the pot and check the soil. if it looks free draining ,replace( without disurbing the roots)in original pot and place in a bucket of water till the bubbles stop then in part shade -- if soil looks 'gluggy' replace in a slightly larger pot with free draining soil around it -bucket till bubbles stop -part shade-- check it over for scale

Have done this, thanks and pruned leaving 2 of the healthier trunks till it responds or karks it.