Richard Branson’s Virgin Orbit Files for Bankruptcy After Failed Satellite Launch

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Richard Branson’s Virgin Orbit has filed for bankruptcy in the US after an eleventh-hour scramble failed to secure further funding, the satellite company announced today, marking the end of the abrupt spiral that UK followed a high-profile launch attempt outside the U.S. January. British billionaire Richard Branson shows a model of Launcher One, a project previously under Virgin , [+] Galactic. Documents show that Virgin Orbit has filed for Chapter 11 bankruptcy protection in the Bankruptcy Court for the District of Delaware.

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