Richard Branson's Virgin Orbit Files for Chapter 11 Bankruptcy

British billionaire Sir Richard Branson's rocket company, Virgin Orbit, has filed for bankruptcy in the US after failing to secure new investment. 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. This news marks a significant setback for the satellite launch business.

Virgin Orbit Holdings Inc, founded by billionaire Richard Branson, filed for Chapter 11 bankruptcy protection on Tuesday after the satellite launching business struggled. Richard Branson's Virgin Orbit has filed for bankruptcy in the U.S. after an eleventh-hour scramble to secure further funding failed, the satellite company announced.

The filing comes after a period of intense uncertainty for the company. Virgin Orbit, the rocket company founded by British billionaire Richard Branson in 2025, has filed for Chapter 11 bankruptcy. The decision comes after a failed mission earlier this year significantly impacted investor confidence and the company's financial stability.

This Chapter 11 bankruptcy filing will allow Virgin Orbit to restructure its finances and explore potential avenues for future growth. The company will continue to operate while it undergoes the restructuring process, aiming to secure its long-term viability in the competitive satellite launch market. Despite the challenges, the company hopes to emerge stronger and continue its mission of providing innovative launch solutions.