Published by Global Banking & Finance Review®
Posted on February 19, 2026
1 min readLast updated: April 3, 2026
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Scottish rocket maker Orbex appointed FRP as administrators after funding and sale talks failed. Trading ceased on Feb 18, 2026, with about 163 UK jobs at risk as FRP explores a sale and other options.
Feb 18 - Scottish rocket maker Orbex has appointed restructuring advisors FRP as administrators, charging them with exploring options for the business, including a potential sale, the advisory firm said in a statement on Wednesday, after earlier attempts to raise new funding or secure a buyer failed.
Orbex, valued at about $220 million after a 2022 fundraising, ceased trading before appointing administrators, a move that impacts the roughly 163 people it employed in the UK, the statement said.
It said earlier this month the failure to secure new investment threatened hundreds of skilled jobs in Scotland and risked derailing Britain's push to build a domestic launch sector.
(Reporting by Sam Tabahriti and Kanjyik Ghosh; Editing by Joe Bavier)
Orbex has appointed restructuring advisors FRP as administrators. They have been tasked with exploring options for the business, including a potential sale.
The company ceased trading before appointing administrators. The move impacts roughly 163 people it employed in the UK.
Orbex was valued at about $220 million after a 2022 fundraising. This reflects its status prior to the current administration process.
Failure to secure new investment threatened hundreds of skilled jobs in Scotland. It also risked derailing Britain’s push to build a domestic launch sector.
The report was by Sam Tabahriti and Kanjyik Ghosh. It was edited by Joe Bavier.
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