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Swiss space firm declared bankrupt

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Swiss space firm declared bankrupt
Photo: S3

Swiss Space Systems (S3), a space technology firm whose CEO was violently attacked earlier this year, has been declared bankrupt by a court in the canton of Vaud.

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S3, based in Payerne in northern Vaud, aims to make space more accessible by creating low-cost, reusable satellite launchers, a development not welcomed by all in the industry.

It also intended to offer zero-gravity flights to the general public in 2017.

But lately the company has been beset by financial difficulties, and on Wednesday the civil court of Broye and North Vaud declared it bankrupt, reported news agency ATS.

The company has ten days to appeal the decision.

The news comes at the end of a difficult year for S3.

In August its founder and CEO, Pascal Jaussi, was left seriously injured after being beaten up and set on fire by two attackers in a forest.

The media reported at the time that Jaussi was forced to drive his car into a forest, where he was doused in petrol and set on fire. He managed to get himself out of the vehicle and call a friend, who alerted emergency services.

The investigation is ongoing.

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