Virgin Orbit goes bust

Last January its first UK launch failed. Last Virgin Orbit goes bustweek it announced that 85% of its 750 employees would be laid off.

Richard Branson put up $11 million to fund severance payments and $31.6 million towards finding a buyer through the bankruptcy process.

Last week’s $200 million lifeline offer  for a majority share in the company from Texas VC Matthew Brown was withdrawn.


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