Space rocket firm Orbex, which was ‘on the cusp’ of the first test launches of its microlauncher Prime later this year, says it will appoint administrators after failing to receive funding
A British space company is on the brink of collapse and says it will appoint administrators.
The rocket manufacturer has filed a notice of intention after fundraising, merger, and acquisition opportunities were all unsuccessful.
Orbex, which was “on the cusp” of the first test launches of its microlauncher Prime later this year, said that disappointing “doesn’t come close to describing” the news.
The orbital launch services company, based in Forres, Moray, has officially filed a notice of intention to appoint administrators but will continue trading while all options for its future are explored including the potential sale of all or parts of its business or assets.
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