Branson’s rocket dream is over as Virgin Orbit folds after failed satellite launches
Branson’s rocket dream is over as Virgin Orbit folds after failed Cornwall satellite launches
Richard Branson’s Virgin Orbit dreams crash-landed on Earth.
He shuts down operations months after a failed mission that left the company fighting for survival.
It was hoped that Virgin Orbit’s first launch from British soil would turn the UK into a global player in the space race.
Star flop: Virgin magnate Richard Branson (pictured) closes Virgin Orbit’s operations months after a failed mission that left the company fighting for survival.
But things ended in disappointment in January when the satellites launched from Cornwall failed to reach orbit due to technical problems.
Two months later, it laid off almost all of its staff and filed for bankruptcy protection in the US last month.
Branson dumped the company and sold the assets to aerospace start-ups for £29 million.
The California headquarters was sold to rival start-up Rocket Lab USA