The company behind the Sutherland Spaceport project is to be closed down as part of a proposed sale involving parts of collapsed rocket firm Orbex.
The joint administrators for Orbex say a deal involving assets linked to the spaceport is at an advanced stage. Because the transaction is structured as a sale of assets rather than a sale of the company, Sutherland Spaceport Limited (SSL) will be placed into liquidation.
A winding-up petition has been lodged with the court, and the company will be formally closed once liquidators are appointed and the process is completed.
In simple terms, the company that currently holds the spaceport assets will cease to exist, while the assets themselves are expected to be transferred through the…