Virgin Orbit Files for Chapter 11 Bankruptcy Protection
The satellite launch company’s operations were hurt by a failed launch earlier this year.
The satellite launch company’s operations were hurt by a failed launch earlier this year.
The satellite launch company revealed layoffs of about 85 percent of staff in a filing with the SEC.
The space launch company says the mission reached certain milestones despite problems that kept its payload from reaching orbit.
Sir Richard Branson’s Virgin Orbit, a satellite launch and services company, will officially become a publicly traded company following its merger with NextGen Acquisition Corp. II (NASDAQ: NGCA).