Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline.
on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline.
"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," Dan Hart, CEO of Virgin Orbit,"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.
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