Rocket firm Orbex, which had planned to launch satellites from a spaceport in Sutherland, collapsed owing millions of pounds to a range of small businesses, according to newly-published documents.
The company failed in February with cumulative losses of £73.3 million which included funding from Scottish Enterprise, Highlands and Islands Enterprise, and the Scottish National Investment Bank, which will be written off.
A statement of affairs on its debt has now been made public and reveals how the Forres-based manufacturer left almost £57m unpaid to unsecured creditors.
Among the larger debts were more than £355,000 owed to the European investment bank Bryan, Garnier & Co; £252,315 to the Spanish aerospace group CITD Engineering & Technologies; and £450,000 to Deimos Space UK, the aeronautics engineer.
Moray council was owed £31,661 while a range of small businesses are listed as creditors,. A builders merchant was due £107, a dry cleaning firm £163 and a caravan and trailer supply store £120. Law firm Harper Macleod and communications agency Grayling were also left with unpaid bills.
The would-be rocket builder launched in 2015 and had received more than £130 million of grant and equity funding. It focused on sustainable, eco-friendly rocket launches using bio-LPG, establishing a factory in Forres.
It raised £138.5m in grant and equity funding in its attempt to build a reusable rocket run on biofuel.
That included securing £76m of public money with the UK government putting in £26m and the Scottish National Investment Bank £29m.
FRP, the administrator, is attempting to sell Orbex’s assets. In May the FRP said there had been a lot of interest.
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