News Formal

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

  • 📰 latimes
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 82%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: ReutersScience - 🏆 559. / 51 Read more »