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Virgin Orbit has sold its assets and equipment to a trio of aerospace companies through an auction, as confirmed by a court filing released on Tuesday.
Virgin Orbit, the satellite launch company founded by Richard Branson, has announced an extension of the deadline for bids as part of its bankruptcy auction process.
New satellite center opens at Spaceport Cornwell.
Virgin Orbit has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.
Virgin Orbit has informed its employees that the company will be ceasing operations "for the foreseeable future".
According to a company-wide email from CEO Dan Hart, Virgin Orbit will be extending its operational pause again to pursue an investment that could save the company.
Virgin Orbit has announced that it will be furloughing almost all of its employees and halting operations for a week as it seeks a new funding lifeline.
Virgin Orbit's LauncherOne has suffered a failure in its debut flight. This story is developing.
Virgin Orbit s gearing up for the first ever launch from the United Kingdom, however they are facing regulatory and technical challenges which are impacting the schedule.
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