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British space rocket company enters administration with more than 100 jobs lost
Orbex ceased trading after failing to secure funding, leading to 156 job losses; administrators are in talks with over 20 potential buyers to preserve space launch operations.
- Orbex, the Forres-based rocket maker, entered administration last week with Chad Griffin, Geoff Rowley and Graham Smith appointed as joint administrators, employing around 163 people in the UK.
- The administration followed unsuccessful Series D funding round and merger and acquisition discussions after Orbex last week filed a notice of intention to appoint administrators, ceasing trading shortly before appointment amid a Glasgow winding‑up petition from His Majesty’s Revenue and Customs.
- With £138.5m raised, FRP is seeking buyers and investors, holding talks with more than 20 interested parties including other rocket developers for a potential sale of assets or technology.
- Most staff were made redundant, with 156 employees affected, while joint administrators will engage with employees and seek to retain space launch operations in Forres.
- Once on the cusp of test launches of Prime later this year, Orbex’s £76.7 million public investment, including £26m from the UK Government in 2025 and £29m from the Scottish National Investment Bank, is at risk.
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Coverage Details
Total News Sources9
Leaning Left4Leaning Right2Center1Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
14%
R 29%
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