Virgin Orbit: Richard Branson’s rocket firm files for bankruptcy

Sir Richard Branson’s satellite launch company Virgin Orbit has filed for bankruptcy in the US.

It comes after the company failed to secure rescue funding.

Mr Branson and his Virgin Group have invested more than $1bn (£809m) into the business in total.

The business lodged a filing with the US Bankruptcy Court for the District of Delaware as it seeks a sale of the remaining business on Tuesday, 4 April.

In January, a Virgin Orbit rocket failed to complete the first satellite launch from UK soil.

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