Richard Branson’s Long Beach space-launch company Virgin Orbit to liquidate

📆 24/05/2023 06:54:00
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Stratolaunch and Rocket Lab USA Inc. are among the buyers for assets of Virgin Orbit Holdings Inc., the bankrupt space-launch company tied to billionaire Richard Branson that until recently employed nearly 700 people in Southern California

The piecemeal sale indicates no adequate bids emerged for the whole of Virgin Orbit during an auction. Launcher Inc. is set to buy a test facility for $2.7 million, court papers show. Vast Space announced a deal recently to acquire Launcher.The asset disposals, which total more than $35 million, are subject to bankruptcy court approval.

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Virgin Orbit auctions $36 mln in remaining assets as company foldsRichard 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.
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