Scottish Space Rocket Company Orbex Enters Administration with Major Job Cuts
Scottish space rocket manufacturer Orbex has entered administration, leading to the redundancy of most of its 163 employees. The Forres, Moray-based firm, which aimed to pioneer the UK's sovereign space launch capability, has ceased trading after unsuccessful fundraising, merger, and acquisition attempts.
Administrators Appointed and Future Options Explored
FRP Advisory has appointed Chad Griffin, Geoff Rowley, and Graham Smith as joint administrators. They are now actively exploring all avenues to preserve value, including a potential sale of assets or technology. Mr Griffin stated that the administrators are in discussions with over 20 interested parties, such as other rocket developers, and are encouraging further approaches from buyers or investors.
Orbex had secured £138.5 million in funding, with £33.3 million from grants and £105.1 million from equity. Public investment totalled £76.7 million, including £26 million from the UK Government in 2025 and £29 million from the Scottish National Investment Bank.
Impact on Employees and Launch Plans
The majority of staff have been made redundant, with only a handful retained to manage the transition. Administrators are providing support and information to all affected employees. Orbex was on the verge of conducting its first test launches for the 'Prime' microlauncher later this year, a significant setback for the UK's space ambitions.
In related news, rocket company Skyrora has expressed interest in purchasing select assets from Orbex, including its Sutherland Spaceport scheme, with potential investments of up to £10 million.
