Richard Branson’s Virgin Orbit files for bankruptcy

Last week, the group said it would cut 675 jobs – about 85% of its workforce – as it continued to search for a funding lifeline.

Richard Branson’s satellite launch company Virgin Orbit has filed for Chapter 11 bankruptcy in the US after failing to secure rescue funding. Picture: Ben Birchall/PA

Richard Branson’s satellite launch company Virgin Orbit has filed for Chapter 11 bankruptcy in the US after failing to secure rescue funding.

It comes after a Virgin Orbit rocket failed to complete the first satellite launch from UK soil in January.