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The Latest Breaking News from Virgin Orbit

Virgin Orbit Failure Casts Cloud Over Space Voyages: Kiplinger Economic Forecasts

Virgin Orbit failure casts a cloud over space voyages but SpaceX could fill the void.

Kiplinger

Sir Richard Branson personally lost £1.5 billion in the pandemic

The British entrepreneur also admitted he suffered depression as his company faced backlash.

Fortune

Richard Branson net worth | Evening Standard Tech Rich List

Sir Richard’s headteacher at Stowe public school told him he would either end up in prison or become a millionaire. And while he had a few brushes with the authorities - not least a highly suspect wheeze to avoid paying customs on record exports that earned him a night in…

Evening Standard

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Virgin Orbit bankruptcy: why the UK's spaceport industry may still have a bright future

The UK’s space sector has shown a remarkable dynamism in the past few years. According to the latest official figures, the sector’s revenue grew about 5.1% in 2021, outpacing the global space industry. This is even more impressive considering the UK’s economy declined over the same period.

The Conversation

Top exec at Richard Branson’s Virgin Orbit blames CEO and board for bankruptcy sale

Operations chief Tony Gingiss apologized to staff for management's failure to save the SpaceX rival from insolvency.

Fortune

Setback for Wagner Corporation's Wellcamp airport as Virgin Orbit announces bankruptcy

A US company that was due to launch rockets from Queensland files for bankruptcy, dealing a blow to a regional airport that was selected to be a base.

ABC News

How Long Beach's Virgin Orbit spiraled into bankruptcy protection

Six years ago, Virgin Orbit's future seemed bright.

Los Angeles Times

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Virgin Orbit files for bankruptcy after funding efforts fail

The California-based launch company Virgin Orbit filed for Chapter 11 bankruptcy on Monday (April 3), shortly after it failed to secure a potential funding lifeline.

Space

Richard Branson's satellite launch firm is back down to earth as bosses file for bankruptcy

Virgin Orbit’s move comes after it was unable to secure rescue funding. It suffered a major setback in January when its rocket was unable to deploy its satellites into orbit

Daily Mirror

Spaceport Cornwall focused on future as Virgin Orbit files for bankruptcy

The head of the South West space cluster said it would continue to work with other global space and satellite businesses and open a new research facility this month

Birmingham Post

Branson’s rocket-launch firm Virgin Orbit files for bankruptcy

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.

Tribune News Service

Musk’s SpaceX has once less competitor as Virgin Orbit files for bankruptcy

The startup founded by the Brit will not attempt to reorganize under protection from creditors but instead will pursue an outright sale.

Fortune

Virgin Orbit seeks bankruptcy protection after mission fail

Richard Branson’s Virgin Orbit is filing for Chapter 11 bankruptcy protection after a failed mission and increasing difficulty in raising funding for future operations

The Independent UK

Virgin Orbit files for bankruptcy in the US as it looks for sale

Sir Richard Branson’s American satellite launch firm announced hundreds of job cuts last week months after it attempted to shoot a rocket into space from Spaceport Cornwall

Birmingham Post

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The Guardian - UK

Richard Branson’s Virgin Orbit files for bankruptcy after failing to find funding

California-based company forced to cut 85% of workforce after struggling to secure investment

The Independent UK

Richard Branson’s Virgin Orbit files for bankruptcy after axing 85% of workforce

The company’s January launch failed citing an ‘anomaly’

Evening Standard

Virgin Orbit files for bankruptcy

Richard Branson’s satellite business had suffered a series of setbacks including a failed rocket launch attempt and a funding crisis

The New Daily

Richard Branson’s Virgin Orbit files for bankruptcy

Richard Branson's Virgin Orbit Holdings is seeking a sale of its assets after announcing the layoff of about 85 per cent of its 750 employees last week.

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Los Angeles Times

Long Beach's Virgin Orbit lays off 675 people, 85% of its workforce

Richard Branson's Virgin Orbit is laying off about 675 employees, or 85% of its workforce, as the air-launched rocket company failed to find funding to sustain its operations.

Birmingham Post

Spaceport Cornwall boss says Virgin Orbit cuts pose ‘no direct impact’ on project

Sir Richard Branson’s US satellite firm has confirmed it is cutting hundreds of jobs, months after it attempted to launch a rocket into space from the South West space cluster

Fortune

Virgin Orbit's sudden collapse is the latest in a series of high-risk failures by Richard Branson

The satellite deployment startup founded by Branson is letting go of the bulk of its staff citing an 'inability to secure meaningful funding'.

The Independent UK

Richard Branson's Virgin Orbit slashing 85% of its workforce

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission

Birmingham Post

Virgin Orbit cuts 675 jobs as it races to avoid collapse - report

It comes after Sir Richard Branson’s US satellite launch firm attempt to launching a rocket into orbit from Spaceport Cornwall ended in failure earlier this year

Daily Mirror

Richard Branson’s Virgin Orbit lays off 85% of staff and ceases operations

Virgin Orbit said that the layoffs will impact around 675 employees across all areas of the company with equates to around 85% of staff

The Guardian - UK

Virgin Orbit cuts 85% of workforce after failing to secure fresh funding

Decision raises fears that company founded by Sir Richard Branson may be on verge of collapse

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