Richard Branson's space firm Virgin Orbit files for bankruptcy
British billionaire Sir Richard Branson's rocket company Virgin Orbit has filed for bankruptcy in the US after failing to secure new investment.
The company, based in California, announced last week that it would cut 85% of its 750-strong workforce. Virgin Orbit's boss Dan Hart said that although the company had "taken great efforts" to address its finances and secure more funding, "we ultimately must do what is best for the business."
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