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| Science & Technology |
| Richard Branson's Virgin Orbit prepares for insolvency amid emergency funding requests |
| 2023-03-20 |
| [FoxNews] Virgin Orbit is preparing insolvency plans in case it cannot secure emergency funding from investors this week, according to Sky News. The Virgin Group is reportedly working with Ducera and Alvarez & Marsal (A&M) to draw up fallback plans in case funding cannot be secured. Virgin Orbit paused all operations and furloughed most of its employees on Wednesday, two months after the company experienced a mid-flight rocket failure when attempting to send satellites to orbit from Cornwall, England. The failure caused the company's shares to drop as much as 20% when it happened, |
| Posted by:Skidmark |
| #2 Isn't "Virgin" a very sexiss name for a woke company? |
| Posted by: M. Murcek 2023-03-20 11:41 |
| #1 Branson has been in trouble for some time: Apr 20 2021, In a letter to employees, Virgin boss Richard Branson said that he needed a commercial loan from the U.K. government to help his Virgin Atlantic airline business survive. |
| Posted by: Slavising Unineting5672 2023-03-20 11:20 |