Orbex asset sale draws multiple bidders as administrators field 15 offers for collapsed rocket firm
Administrators handling the fallout of collapsed rocket manufacturer Orbex have confirmed they are in active discussions with multiple potential buyers, with 15 formal offers already on the table for parts of the business and its assets.
FRP Advisory, the firm appointed to manage the administration, said interest in the Moray-based company had been “high level” since it entered administration earlier this year, resulting in the loss of more than 150 jobs. One bidder was granted a short exclusivity period to explore a potential acquisition, paying a £25,000 deposit, though that window has now expired.
Orbex, founded in February 2015, was developing a rocket called Prime designed to launch small satellites into low Earth orbit. At its peak, the company employed 163 people across the UK, the majority based at its facility in Forres, Moray. Most staff were let go in February, shortly before the administration process began.
The company also held a lease for a planned spaceport at Tongue in Sutherland, a site that had been earmarked for vertical rocket launches. The future of that lease now hangs in the balance, depending on the outcome of the asset sale.
The collapse of Orbex is a significant blow to Scotland’s burgeoning space sector, which had positioned the company as a key player in the UK’s ambitions to become a hub for small satellite launches. Industry analysts note that while the level of buyer interest is encouraging, the fragmented nature of the bids — covering different parts of the business rather than a single takeover — suggests a full recovery of operations is unlikely.
Local residents and former employees have reacted with a mix of cautious optimism and frustration. Alistair MacKenzie, a former Orbex engineer who lost his job in February, said: “It’s good that people are interested, but it feels like we’re being picked over like carrion. The company had real promise. I just hope whoever buys the pieces actually has a plan, not just a tax write-off.”
Dr. Fiona Ross, a space industry consultant based in Edinburgh, offered a more measured view: “The fact that 15 bids came in shows the underlying value of Orbex’s technology and intellectual property. The UK space sector is still young, and consolidation like this is painful but not unusual. The real question is whether a buyer can reassemble the pieces into something viable.”
More bluntly, Callum Reid, a former project manager at Orbex, said: “This whole thing has been a mess from the top down. Management kept telling us everything was fine, then suddenly we’re all out of a job. Now they’re selling off the furniture. It’s insulting. I hope the next owners actually know what they’re doing, because the last lot clearly didn’t.”
FRP Advisory declined to comment on the identity of the bidders or the specific assets under consideration, but confirmed that the sale process remains ongoing.