Virgin Orbit is finally closing after a failed rocket launch

Virgin Orbit's jumbo jet on its first mission
Virgin Orbit’s jumbo jet on its first mission. However, the project ultimately went awry. © Virgin Orbit

After a failed satellite launch earlier this year, space company Virgin Orbit is ceasing operations.


This was shared by British businessman Richard Branson’s California-based company on Tuesday evening (local time). The fixed assets will be sold to four buyers who prevailed in a bidding competition. According to the British broadcaster Sky News, most of the previous headquarters went to the competitor Rocket Lab USA.

Virgin Orbit assets go to four buyers

Founded in 2017, the company has managed to “make significant milestones and lasting contributions to the progress of satellite launches in the US and UK,” the statement said. Virgin Orbit was instrumental in attempting to launch the first satellite into orbit from UK soil earlier this year. An aircraft first brought the launch vehicle to a high altitude before it was launched.

However, the mission failed (DIGITAL TELEVISION reported). Bankruptcy was filed in the US in April.



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