Scottish rocket startup nears collapse despite £26m in taxpayer loans

Orbex was ‘on the cusp’ of holding its first test flights in 2026, according to its chief executive, Phil Chambers. Photograph: Orbex

A British space company hoping to launch the first homegrown rocket from Scotland is on the brink of collapse, threatening 150 jobs and throwing doubt over the UK’s extraterrestrial ambitions.

Orbex, which is based in the Scottish Highlands, is lining up administrators as hopes fade that it will strike a rescue deal or raise funds, despite having been handed £26m in government loans last year.