Why Richard Branson's rocket company, Virgin Orbit, just filed for bankruptcy
The spinoff of the billionaire's space tourism venture Virgin Galactic had recently cut 85% of its staff and is seeking a buyer. The move comes after a failed rocket launch from the U.K. in January.
The company founded by billionaire Richard Branson that modified a Boeing 747 to launch satellites into orbit has filed for bankruptcy, following a high-profile failed rocket launch in January.
Virgin Orbit announced on Monday that it was as it attempts to find a buyer for the financially struggling company.
