Space rocket company Orbex has officially entered administration, casting significant doubt over the future of its ambitious launch programme and placing approximately 163 UK jobs in jeopardy. The company, which had been developing its microlauncher Prime with plans for inaugural test flights later this year, appointed joint administrators from FRP Advisory this week.
Administration Appointment and Immediate Consequences
FRP Advisory confirmed that Chad Griffin, Geoff Rowley, and Graham Smith have been appointed as joint administrators of Orbex, which is headquartered in Forres, Moray. The company ceased trading shortly before the administrators were formally appointed, marking a dramatic halt to its operations.
This development follows Orbex filing a notice of intention to appoint administrators last week after all potential avenues for rescue—including fundraising, merger discussions, and acquisition opportunities—ended unsuccessfully. The joint administrators have now assumed control and will explore all available options for the business.
Search for Buyers and Asset Preservation
The administrators have immediately begun engaging with potential interested parties, with FRP stating they are already in active discussions with more than 20 entities, including other rocket developers. Their primary focus is on preserving the value of Orbex's assets and technology through a potential sale.
Chad Griffin, joint administrator and partner at FRP, emphasised the company's strategic importance, stating: "Orbex was at the forefront of the UK's ambitions to create a sovereign space launch capability, and has made significant technological progress in recent years. Our focus now is on supporting employees, and engaging with potential interested parties to preserve value in the business assets and seek to retain space launch operations in Forres given the investments already made."
Financial Backing and Public Investment
Orbex had secured substantial funding totalling £138.5 million throughout its development phase. This comprised £33.3 million in grants and £105.1 million in equity investments. Notably, public investment accounted for £76.7 million of this total, including a £26 million contribution from the UK Government in 2025 and £29 million from the Scottish National Investment Bank.
The significant public funding underscores the strategic importance placed on Orbex's mission to establish domestic space launch capabilities. The administrators have encouraged any further approaches from prospective buyers or investors to come forward as they work to salvage what remains of the company's assets and technological advancements.
Employee Impact and Operational History
Orbex employed around 163 people across the UK, with the majority based at its Forres facility in Moray. The joint administrators have committed to engaging with all employees to provide necessary information and support during this uncertain period.
The company had been positioning itself as a key player in the UK's burgeoning space sector, with its Prime microlauncher representing one of the most advanced domestic rocket development programmes. The administration represents a significant setback for the UK's space ambitions, particularly the goal of establishing independent launch capabilities from British soil.
