The California-based company said in a statement Monday that it had filed for Chapter 11 bankruptcy, meaning that it can continue doing business while it restructures its debts. “While we have taken great efforts to address our financial position and secure additional financing, we ultimately must do what is best for the business,” Dan Hart, chief executive of Virgin Orbit, said in the statement posted on its website.
6 million into the satellite launcher to help it stay afloat while the business searches for a new owner. The announcement comes just days after Virgin Orbit said it would lay off about 85% of its workforce to reduce expenses since it could not secure additional funding. The company was founded in 2017 to make small rockets, called LauncherOne, that can deliver lightweight satellites to orbit quickly and cheaply. The rockets take off from modified Boeing 747 planes.
belaluddin44551 Ponzi scheme all the shmucks who invested it this company dude probably cashed his stock out 6 months ago
Win for the climate!👏 All that greenhouse gas being pumped directly into the clouds.🤦
Good thing it was a used air frame there is going to be a lot of available secondhand 747s
When u have more money than sense! 💯🤦🏻♂️
✈️😳
god is really a man and the truth is god is king David, the Bible was interpreted wrong, jesus Christ is king David son
Oh well. A wonderfully creative idea. Perhaps it will return.
So Virgin Galactic doesn't share in the loss and is not accountable for it? shrewd Branson
Hahaha!
Ohhh No!
The Billionaire won’t bail his own company. He would rather go bankrupt and have the tax payers pay the debts. 🤮
Meanwhile:
WE'RE LAUGHING AT YOU!
Another $B-aire fucks it up beyond all recognition.
Again? Branson must be the UK's version of Trump!
Cha ching
Capitalism still rules though right? What a state we are in.
Tell the truth!
Isn't he the guy from Shark Tank?
WE'RE VOTING TRUMP NO MATTER WHAT!
I'm imagining the kind of memes Elon Musk is going to make out of this
Virgin Obit
I fixed it for you : In Tennessee, a week after a violent school shooting, thousands rallied to support gun reform, but the GOP reacted by asking teens which gun the would like to be shot w/ & expelling dem legislators who stood with the children.
🙏
Please help me! My name is Lin donglong, an employee of China telecom fuzhou branch. Company manager huang fei (communist party of China) organized the leadership of the gang of evil forces brutal persecution: surveillance location, insult,abuse, framed to take nude photos of me
Another rich bastard trying to avoid paying his creditors
Another scam
Expected.
FactsAndBeliefsOfJainism मोक्ष मार्ग के विषय में गीता अध्याय 16 श्लोक 23-24 में वर्णन है कि जो साधक शास्त्र विधि त्यागकर मनमाना आचरण करता करता है, उसे न कोई सिद्धि तथा न उसकी गति होती है अर्थात व्यर्थ है। इसके अनुसार कपड़े त्यागकर या सन्यास धारण करने से मोक्ष नही होता बल्कि अपन
Fantastic News. 🇱🇺 🇬🇹 🇱🇺 🇾🇪 🇪🇬 🇻🇺 🇮🇹 🇦🇷 🇲🇨 🇱🇨 🇧🇸 🇱🇺 🇰🇿 🇺🇿 🇹🇷 🇹🇳 🇨🇳 🇸🇬 🇱🇻 🇩🇰 🇵🇱 🇮🇩 🇻🇳 🇲🇦🇶🇦🇧🇭 🇪🇸 🇩🇪 🇱🇺 🏴 🇬🇱 🇨🇦 🇧🇼 🇹🇿 🇱🇺 🇲🇹 🇱🇨 🇵🇪 🇱🇺 🇦🇱 🇭🇺 🇮🇷 🇮🇶 🇧🇳 🇸🇩 🇲🇱 🇱🇺
While spaceX continues to leap big. They can negotiate with Elon Musk to acquire them or get so contracts from NASA but the US government would object
All that money could have been spent on something that helped people.
This looks like it's on the level. Right?
so Virgin Galactic bears no responsibility and shares no burden from the loss? Clever Branson
How far behind is Elrons SpaceX? Coupla launches coming up, how many failures can thay afford? Remembering that’s how Elron ‘innovates’ keep trying it until it doesn’t explode.
FactsAndBeliefsOfJainism जैन धर्म का खुलासा महावीर जैन जी के द्वारा चलाये गए 363 पाखण्ड मतों अनुसार भक्ति करने से क्या मोक्ष सम्भव है... ❓ 🌈अवश्य पढ़ें 'ज्ञान गंगा'
😢
This is a terrible day for gum. 😞
Well, boo fucking hoo.
nerdlandbe lievenscheire
FactsAndBeliefsOfJainism जैन धर्म का खुलासा महावीर जैन जी के द्वारा चलाये गए 363 पाखण्ड मतों अनुसार भक्ति करने से क्या मोक्ष सम्भव है... ❓ 🌈अवश्य पढ़ें 'ज्ञान गंगा'
So billionaires can file for bankruptcy, but poor students with student loans can’t. Rightttttttt.
😇😇😇
Very bad
virgin loser