Richard Branson’s Virgin Orbit Files For Bankruptcy

Virgin Orbit was founded in 2017 and is a spin-off from space tourism company Virgin Galactic

  • Virgin Orbit, British billionaire Sir Richard Branson’s rocket firm, has filed for bankruptcy in the United States after a bid to secure new investment failed.
  • The satellite launch company ceased operations weeks ago but it aims to secure a buyer for the company.
  • The California-based company recently announced an 85% cut of its 750-strong workforce.
  • A Virgin Orbit rocket failed to complete its first-ever satellite launch from UK soil earlier this year.
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