The moment has at last come for Sir Richard Branson to hang up his satellites and give up the ghost.
In a statement to investors, Virgin Orbit announced that it would be filing for bankruptcy and preparing to sell to prospective new owners after only six years of existence.
“We believe that the cutting-edge launch technology that this team has created will have wide appeal to buyers as we continue in the process to sell the company,” the company’s CEO, Dan Hart, said in the statement.