CAMBRIDGE, Mass. A German company that is developing a lunar lander has filed for insolvency, citing a shortfall in funding, but vows to continue development of its spacecraft.
Berlin-based PTScientists announced July 8 that it had filed for preliminary insolvency under the German Insolvency Code in a local court July 5. That court has appointed an insolvency manager, Sascha Feies, to oversee the company.
PTScientists said in a statement that it was forced to file for insolvency because unplanned delays had occurred in the acquisition of further investor and promotion funds needed to develop its first lunar lander. The company didnt specify how much funding it was seeking or other financial information that triggered the court filing….
Read the full article at: https://spacenews.com/german-lunar-lander-company-files-for-bankruptcy-protection/
