Orbex’s Danish subsidiary to file for bankruptcy
In what appears to confirm the story yesterday that the rocket startup Orbex was about to be bought out by the French startup The Exploration Company — thus likely ending operations in Great Britain — there was a second follow-up story later in the day that claimed Orbex’s Danish subsidiary is about to file for bankruptcy.
On 20 January, more than 15 Orbital Express Launch ApS employees announced at around the same time on LinkedIn that they were looking for work. Since then, European Spaceflight has received confirmation from three independent sources, who wished to remain anonymous, that the subsidiary has dismissed its entire workforce, with the company expected to officially file for bankruptcy on 22 January.
The article notes that this subsidiary had been losing millions in the past two years, and was entirely reliant on cash from its parent company. Unfortunately, Orbex has had no incoming revenue itself, because red tape in the United Kingdom had prevented it from launching for the past four years.
If true, this story confirms that Orbex’s negotiations with The Exploration Company is likely an attempt to make as much money from its remaining assets as possible before closing down.
Congratulations to the United Kingdom, the land where rocket companies go to die!
In what appears to confirm the story yesterday that the rocket startup Orbex was about to be bought out by the French startup The Exploration Company — thus likely ending operations in Great Britain — there was a second follow-up story later in the day that claimed Orbex’s Danish subsidiary is about to file for bankruptcy.
On 20 January, more than 15 Orbital Express Launch ApS employees announced at around the same time on LinkedIn that they were looking for work. Since then, European Spaceflight has received confirmation from three independent sources, who wished to remain anonymous, that the subsidiary has dismissed its entire workforce, with the company expected to officially file for bankruptcy on 22 January.
The article notes that this subsidiary had been losing millions in the past two years, and was entirely reliant on cash from its parent company. Unfortunately, Orbex has had no incoming revenue itself, because red tape in the United Kingdom had prevented it from launching for the past four years.
If true, this story confirms that Orbex’s negotiations with The Exploration Company is likely an attempt to make as much money from its remaining assets as possible before closing down.
Congratulations to the United Kingdom, the land where rocket companies go to die!







