Billionaire Richard Branson’s ambitious plans to launch the first satellites from the UK came crashing down to earth today after the company into which he had poured over $1 billion in cash filed for bankruptcy.
Virgin Orbit, which Branson founded in 2017, said it had commenced a Chapter 11 proceedings at a US Bankruptcy Court in the District of Delaware in order to sell the business after being unable to attract enough funding to secure its future.
