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WASHINGTON :Richard Branson's bankrupt satellite launch firm, Virgin Orbit, on Tuesday revealed that it was closing for good after a $36.4 million asset sale, including an agreement to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc.Rocket Lab, the seasoned sm
In a statement thanking its employees, investors and other stakeholders, Virgin Orbit said it will sell its assets to a total of four winning bidders and cease operations.
Virgin Orbit ceases operations, bankruptcy sale strips company of assets
Founded by billionaire Branson to send small satellites into space, Virgin Orbit laid off 85% of its some 750 employees in March
Richard Branson's bankrupt satellite launch firm, Virgin Orbit, on Tuesday revealed that it was closing for good after a US$36.4 million asset sale, including an agreement to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc.