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

Satellite launch firm Virgin Orbit, part of Richard Branson's Virgin Empire, has filed for bankruptcy. The firm listed $243m in assets and $153.5m for its total debt, and cut 85% of its staff. The move came after the California-based firm halted operations in March, having failed to gain enough funding to continue operating following a high-profile launch failure in January. https://ift.tt/357bhkH