The Latest Breaking News on Richard Branson’s Virgin Orbit is permanently shutting down after failed test this year

Richard Branson’s US firm, which attempted to shoot a rocket into orbit from the UK’s only licensed spaceport at Cornwall Airport Newquay, said it would sell its assets to four winning bidders

The UK’s space sector has shown a remarkable dynamism in the past few years. According to the latest official figures, the sector’s revenue grew about 5.1% in 2021, outpacing the global space industry. This is even more impressive considering the UK’s economy declined over the same period.

The California-based launch company Virgin Orbit filed for Chapter 11 bankruptcy on Monday (April 3), shortly after it failed to secure a potential funding lifeline.

Virgin Orbit’s move comes after it was unable to secure rescue funding. It suffered a major setback in January when its rocket was unable to deploy its satellites into orbit

Downdetector received 55,000 reports of internet disruption at 5pm on Tuesday afternoon

Richard Branson’s Virgin Orbit is filing for Chapter 11 bankruptcy protection after a failed mission and increasing difficulty in raising funding for future operations

The company's official website also appeared to crash amid the huge influx of reported issues

Tens of thousands of Virgin Media customers report issues with internet service provider

Sir Richard Branson’s American satellite launch firm announced hundreds of job cuts last week months after it attempted to shoot a rocket into space from Spaceport Cornwall