Tuesday, November 14, 2017

XCOR Aerospace Files For Chapter 7

Mojave-based XCOR Aerospace has filed for Chapter 7 bankruptcy, and will be liquidated, according a court filing by the company filed last week. XCOR had been one of a number of companies in Southern California pursuing the commercial space market. The bankruptcy follows a layoff of all of the company's employees in July, when it said it was unable to raise money to further fund its spacecraft development efforts. At the time of the layoffs, it said it would be continuing to look for funding. A report, citing an email to investors, said inability to pay off a senior creditor forced the bankruptcy filing.

---