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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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