![\"Orbex](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2022\/08\/Orbex-rocket-.png\")
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.<\/p>\n
The company failed in February with cumulative losses of \u00a373.3 million which included funding from Scottish Enterprise, Highlands and Islands Enterprise, and the Scottish National Investment Bank, which will be written off.<\/p>\n
A statement of affairs on its debt has now been made public and reveals how the Forres-based manufacturer left almost \u00a357m unpaid to unsecured creditors. <\/p>\n
Among the larger debts were more than \u00a3355,000 owed to the European investment bank Bryan, Garnier & Co; \u00a3252,315 to the Spanish aerospace group CITD Engineering & Technologies; and \u00a3450,000 to Deimos Space UK, the aeronautics engineer.<\/p>\n
Moray council was owed \u00a331,661 while a range of small businesses are listed as creditors,. A builders merchant was due \u00a3107, a dry cleaning firm \u00a3163 and a caravan and trailer supply store \u00a3120. Law firm Harper Macleod and communications agency Grayling were also left with unpaid bills.<\/p>\n
The would-be rocket builder launched in 2015 and had received more than \u00a3130 million of grant and equity funding. It focused on sustainable, eco-friendly rocket launches using bio-LPG, establishing a factory in Forres. <\/p>\n
It raised \u00a3138.5m in grant and equity funding in its attempt to build a reusable rocket run on biofuel.<\/p>\n
That included securing \u00a376m of public money with the UK government putting in \u00a326m and the Scottish National Investment Bank \u00a329m.<\/p>\n
FRP, the administrator, is attempting to sell Orbex\u2019s assets. In May the FRP said there had been a lot of interest.<\/p>\n
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