Posted: Sun, Feb 22, 2026, 11:40 AM ET (1640 GMT)
Orbex, a U.K.-based launch vehicle developer, has formally entered bankruptcy. Advisory firm FRP was appointed Wednesday as administrator for the company, which announced last week its intent to enter administration after efforts to raise money or sell the company fell through. Orbex had employed more than 150 people at its Scottish headquarters, who have now been laid off as Orbex halts operations. FRP said it has received more than 20 expressions of interest from companies interested in acquiring Orbex or its assets.

Related Links:

•  Inverness (Scot.) Courier article
•  STV article
•  Scottish Financial News article
•  The Scotsman article
•  Orbex press release