The company that was planning zero gravity flights around the world, including North Bay has been declared bankrupt by a court in Switzerland.

Mayor Al McDonald says they’re disappointed, but also says there were positives with S3 looking to set up in North Bay.

He says that includes the attention it brought North Bay, along with the work the company did with Canadore and others.

“Even see the local businesses that were involved with S3 in building some of the materials and some of the prototypes, now we’re starting to have that expertise here in our community and that’s what the opportunity of S3 gave us,” he added.

McDonald says S3 didn’t have an office or any employees here.

Late last week, European news agency ATS said S3 has 10 days to appeal the court decision.