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

Orbex's collapse would put 150 jobs at risk and dash hopes of it launching first homegrown rocket from Scotland

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.