Richard Branson’s Virgin Orbit to Liquidate, Being Sold for Parts

Stratolaunch and USA are among the buyers for assets of Virgin Orbit Holdings, the bankrupt -launch company tied to billionaire .

Virgin Orbit will sell its modified Boeing 747, known as Cosmic Girl, to Stratolaunch for $17 million after no better bids emerged, according to bankruptcy court papers filed Tuesday, Bloomberg reports. Meanwhile, Rocket Lab is buying Virgin Orbit's primary rocket factory in California for $16.1 million.

Rocket Lab completed its business combination with in August 2021. Rocket Lab USA received apporoximately $777 million on the SPAC deal. Virgin Orbit's bankruptcy represents a spectacular implosion of the once-promising space systems company, at one time widely touted as the next great innovator in advancing space travel. Read more.

Source: Richard Branson's Virgin Orbit to Liquidate, Being Sold for Parts