Virgin Orbit going bankrupt

[Hanno Labuschagne]

Virgin Orbit going bankrupt

Virgin Orbit Holdings Inc. filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff.

The company listed $243 million in assets and $153.5 million for its total debt in a Chapter 11 petition filed in Delaware.

[Bloomberg]

 

[Thugscub]

Didn't Virgin Active go bang as well?

 

[Gordon_R]

Confirmed:

Virgin Orbit: Branson’s rocket dream ends after mission failure

Virgin Orbit's shutdown follows a major launch failure and most of staff have been laid off.

www.bbc.com