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.
Quelle: THE LOCAL
Hope of North Bay Becoming Canada's First Spaceport Put on Hold
Swiss media began reporting last week that Swiss Space Systems (S3), the company with aspirations of becoming a leader in suborbital launches of small satellites and zero-g flights for passengers and scientists, was declared bankrupt by a Swiss court. It's an unfortunate turn of events for the company which had conducted some initial work in North Bay, and was considering the city as potential launching hub for part of its North American launch services.
The news also come after an incident in September where the company's CEO was the target of a violent attack which left him severely burned.
It was June 2014 that S3 announced it would be using North Bay's Jack Garland Airport (YYB) and partnering with Canadore College.
S3 was developing an unmanned suborbital spaceplane, called SOAR, for small satellite deployment. SOAR would have been able to launch satellites up to 250 kg in size.
In November 2014 S3 completed it's drop-test flight campaign in North Bay. S3 later announced it would perform Zero-G flight out of North Bay as well.
The company had planned an initial public offering (IPO) but in late December 2015 cancelled the IPO along with the zero-g flights.
S3 has until December 23rd to contest the Swiss court ruling. It's unclear if S3 will come out of bankruptcy.