The company laid off most of its staff on Friday and is looking to sell its assets.
officially began in 2017 as an offshoot of Virgin Galactic. Virgin Orbit’s business centered on launching small satellites into orbit.
Virgin Orbit successfully launched its first mission to orbit in January 2021 and completed four successful flights through 2022. It has placed 33 satellites into precise orbit, the company said.
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Branson's Virgin Orbit files for bankruptcy, to seek buyerRichard Branson's Virgin Orbit Holdings filed for Chapter 11 bankruptcy on Tuesday after the satellite launch company failed to secure the long-term funding needed to help it recover from a January rocket failure.
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Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S.Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline.
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Branson’s Virgin Orbit files for bankruptcy, to seek buyerVirgin Orbit went public in 2021 through a blank-check deal, raising $255 million less than expected.
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Billionaire Richard Branson’s Virgin Orbit Files For Bankruptcy After Failed Satellite LaunchVirgin Orbit, which laid off most of its staff last week, struggled to secure funding after a failed satellite launch from the U.K. in January.
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Virgin Orbit files for bankruptcy protection as it seeks a buyer | EngadgetVirgin Orbit has filed for Chapter 11 bankruptcy protection a few days after officially shutting down its space launch operations..
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Branson’s Space X Rival Virgin Orbit Files for BankruptcyIt comes after the satellite launch company announced it was cutting 85 percent of its staff.
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