A federal bankruptcy court has approved plans to conduct a sale of Virgin Orbit’s assets this month that could result in either new ownership for the launch provider or its dissolution.
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Virgin Orbit
2,164 results found Sort by:Spaceport Cornwall expands facilities following Virgin Orbit failure
Spaceport Cornwall, which provided the runway for Virgin Orbit’s failed launch from the U.K. in January, opened a new operations facility April 27 to attract more businesses in the wake of its flagship customer’s bankruptcy.
Virgin Orbit completes LauncherOne investigation as Chapter 11 bankruptcy continues
Virgin Orbit says it is moving ahead with plans to return its LauncherOne rocket to flight later this year even though there is no certainty the company will emerge from bankruptcy.
Virgin Orbit seeking expedited bankruptcy sale
Virgin Orbit is proposing a rapid sale of the company or its assets in bankruptcy, hoping to conclude the process before the end of May.
Virgin Orbit files for bankruptcy
Launch company Virgin Orbit filed for Chapter 11 bankruptcy April 4, having failed to achieve financial orbit after burning through more than $1 billion.
Virgin Orbit lays off most employees
Virgin Orbit announced late March 30 it was laying off the vast majority of its employees after failing to raise additional funding, putting the launch company’s future in jeopardy.
Virgin Orbit begins “incremental” return to work as it seeks new funding
A small set of Virgin Orbit employees will return to work after a week-long furlough as the company attempts to raise money to remain solvent.
Virgin Orbit pauses operations
Launch vehicle company Virgin Orbit has paused its operations and furloughed its staff for at least a week as it deals with financial issues.
Virgin Orbit elaborates on potential cause of LauncherOne failure
Virgin Orbit provided additional details about the likely cause of its LauncherOne failure last month but didn’t estimate when the vehicle will be ready to return to flight.
Virgin Orbit narrows down cause of LauncherOne failure
Virgin Orbit’s chief executive said Feb. 7 that a problem with a relatively inexpensive part may be linked to the failure of the company’s latest launch last month.