Company Spatial American Virgo orbit On Tuesday, it announced that it had placed itself under the US bankruptcy order with a view to putting it up for sale. The move comes after 675 employees, or 85% of the workforce, were announced at the end of March at the company owned by the British billionaire. Richard Branson.
Dan Hart, chairman of Virgin Orbit, reasoned that despite “significant efforts” to improve the financial situation, “we have to do what is best for the company”. Filing for U.S. bankruptcy protection “represents the best course of action to follow to identify and complete effective sales that enhance the company’s value,” Dan Hart said.
Small success of small startup companies
In early January, A rocket 21m Virgin Orbit, dropped from a Boeing 747 off the UK coast, It could not reach its orbit. 9 people died in this incident satellites Carried by the rocket and accelerating Virgin’s fall from orbit.
Created by Richard Branson in 2017, Virgin Orbit aimed to provide a “new and innovative method of launching satellites” and succeeded in putting 33 of them into orbit. While there are many small launcher projects in the world, only one remains in operation to date: the New Zealand company Rocket Lab.
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