UK space rocket company collapses into administration | UK | News

A UK space rocket company employing 163 people has collapsed into administration. Chad Griffin, Geoff Rowley and Graham Smith have been appointed as joint administrators of Forres, Moray-based Orbex, FRP Advisory said.

This follows a notice from Orbex last week of its intention to appoint administrators following the failure of fundraising, merger and acquisition opportunities. Orbex said it is on the verge of the first test launches of its microlauncher Prime later this year. The joint administrators said they would now explore all options for the business, including the potential sale of its assets or technology.

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