Virgin Orbit: Richard Branson's space firm files for bankruptcy

Published

3 minutes ago

British billionaire Sir Richard Branson's rocket company Virgin Orbit has filed for bankruptcy in the US after failing to secure new investment.

The satellite launch company halted operations weeks ago but it hopes to find a buyer for the business.

The company, based in California, announced last week that it would cut 85% of its 750-strong workforce.

Earlier this year, a Virgin Orbit rocket failed to complete the first ever satellite launch from UK soil.

More on this story

• Branson's rocket company cuts majority of workforce

  4 days ago