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Orbital Express Launch Ltd (in admin)
Find out moreChad Griffin, Geoff Rowley and Graham Smith of FRP Advisory have been appointed joint administrators of Orbital Express Launch Ltd, the Forres-headquartered space launch technology company.
Orbex, which had operations in Forres, Scotland, and Denmark, entered administration following unsuccessful attempts to secure new investment or a strategic acquirer.
The joint administrators will now explore all options for the business, including a potential sale of its assets or technology. FRP says it is already in active discussions with more than 20 interested parties, which include other rocket developers.
Founded in 2015, Orbex was developing Prime – a low-carbon micro-launch vehicle designed to place small satellites into low Earth orbit. The company had secured £138.5 million in funding to date, comprising £33.3m in grants and £105.1m in equity. Public investment totalled £76.7m, including £26m from the UK government in 2025 and £29m from the Scottish National Investment Bank. The company had also received investment from a range of UK and European venture capital funds and strategic corporate investors.
The administration follows the unsuccessful conclusion of a Series D funding round and parallel merger and acquisition discussions. Orbex was exposed to the capital-intensive nature of launch vehicle development and long lead times to revenue so these outcomes left the business without the capital required to continue its development programme.
Chad Griffin, joint administrator and partner at FRP, said:“Orbex was at the forefront of the UK’s ambitions to create a sovereign space launch capability, and has made significant technological progress in recent years.
“Our focus now is on supporting employees, and engaging with potential interested parties to preserve value in the business assets and seek to retain space launch operations in Forres given the investments already made.
CAPA have been appointed to carry out a rates audit over the companies portfolio.
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O&H Vehicle Conversions Ltd (in admin)
Find out moreA firm that made vehicles for the emergency services has gone into administration.
O&H Vehicle Conversions Limited, based in Goole, East Yorkshire, specialised in making both NHS and private ambulances and rapid response vehicles for the police.
Administrators BDO confirmed that operations have ceased and 157 employees have been made redundant with immediate effect.
Mark Thornton, of BDO, said: "It is always a sad day when a longstanding business is forced to close. Given the financial position and outlook for the company, securing a sale of the business as a going concern was not possible."
The administrators said they were appointed on 13 February due to the company facing "financial pressures affecting the wider vehicle conversion industry."
BDO have appointed CAPA to carry out a property audit over the companies various premises.
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Allard hospitality Group Ltd (CVL)
Find out moreAllard's the popular café and wine bar in the North East has entered into a CVL.
Liquidators FRP have appointed CAPA to carry out a rates audit for the 3 properties in North Shields, Tynemouth and Monkseaton.
R3 2026
CAPA are very proud to be main sponsor of 2026's R3 Annual Conference.
The R3 Annual Conference 2026 is taking place at the Marriott Budapest Hotel between 6 – 8 May.
The conference programme will cover topics from across the profession and there will also be an exciting range of social and networking activities bringing delegates together. The conference will host around 250 delegates from across the UK’s leading restructuring, turnaround and insolvency profession.
More information on the conference can be found on R3 Website
The 500 Club
CAPA are proud to be joint hosts of the 500 club. The 500 Club is a series of informal networking events. The invitation-only events are held throughout the year at locations across the UK, including London, Manchester, Birmingham, Leeds, Glasgow, Bristol and others.
The 500 Club events bring together like-minded professionals from the legal, insolvency, finance and property sectors (and more) for drinks, nibbles and, most importantly, good conversation. Typically, you can expect to meet lawyers, insolvency practitioners, lenders and related professionals at The 500 Club events. The 500 Club - Networking events - ESA Risk
