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Frasers Group Acquisition of Harvey Nichols

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News

Scottish rocket startup nears collapse despite £26m in taxpayer loans
Rocket startup Orbex is on the brink of collapse after failing to secure a rescue deal or fresh investment, with its Danish subsidiary already having filed for bankruptcy in January 2026. The UK company, based in the Highlands, is preparing to enter administration, as of mid-February, putting jobs at risk and jeopardizing the UK’s goal of a homegrown space launch.
 
Despite receiving £26 million in government loans since last year, Orbex has struggled with a scale-up funding gap, typical of the capital-intensive aerospace sector. Plans to launch its low-carbon "Prime" rocket from the Shetland Islands this year are now in doubt after merger talks with Germany's The Exploration Company fell through.
 
While it is reported that rival firm Skyrora has expressed interest in acquiring some assets, the potential failure marks a significant blow to Scotland’s burgeoning space industry and raises questions regarding the effectiveness of taxpayer-funded support for high-risk tech ventures.
 
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