Orbex

Orbex, the Scottish microlauncher developer, filed a notice of intention to appoint administrators on February 11, 2026, after Series D fundraising and M&A discussions (including a potential acquisition by The Exploration Company, blocked by the UK government) both collapsed. The company, which had received over £26M in UK government-backed loans and was developing the Prime propane/LOX microlauncher, ceased trading on February 18 with approximately 150 jobs lost. FRP Advisory was appointed as administrators, citing 20+ prospective interested parties. Skyrora, the Edinburgh-based competitor with the only UK domestic launch license, immediately expressed interest in acquiring up to £10M in select Orbex assets including the Sutherland Spaceport.

Orbex, a UK-based launch startup developing the Prime and Proxima rockets, filed a notice of intention to appoint administrators on February 11, 2026 after exhausting all fundraising, merger, and acquisition options. The Danish subsidiary had already filed for bankruptcy in January 2026, resulting in ~90 redundancies. The immediate trigger was the collapse of an agreed letter of intent with The Exploration Company (signed January 21, 2026). Reports indicated the UK government declined to fund TEC's high-thrust engine programme, effectively blocking the deal. Skyrora quickly expressed interest in acquiring select assets including the Sutherland Spaceport lease.