The spinoff of the billionaire's space tourism venture Virgin Galactic had recently cut 85% of its staff and is seeking a buyer. The move comes after a failed rocket launch from the U.K. in January.
Cosmic Girl, a modified Boeing 747 used by Virgin Orbit, is seen in November 2022 in Newquay, England.
The company founded by billionaire Richard Branson that modified a Boeing 747 to launch satellites into orbit has filed for bankruptcy, following a high-profile failed rocket launch in January.as it attempts to find a buyer for the financially struggling company. "While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do what is best for the business," Virgin Orbit CEO Dan Hart said in a statement."We believe that the cutting-edge launch technology that this team has created will have wide appeal to buyers as we continue in the process to sell the Company," he added.
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Richard Branson's Virgin Orbit, headquartered in Long Beach, slashing 85% of its workforceRichard Branson's Virgin Orbit, headquartered in Long Beach, will cut 675 jobs, about 85% of its workforce, with the satellite launch company finding it difficult to secure funding three months after a failed mission.
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LSU wins first NCAA championship, beating Iowa 102-85Head Coach Kim Mulkey and LSU beat Iowa in the national championship game for the first basketball title in school history.
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LSU wins first NCAA championship, beating Iowa 102-85Head Coach Kim Mulkey and LSU beat Iowa in the national championship game for the first basketball title in school history.
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