Why Did Virgin Orbit Firm File for Bankruptcy?
July 25, 2023 ⚊ 1 Min read ⚊ Views 56 ⚊ BLOG
There is no doubt that many businesses struggle and find themselves in hard financial times for many different reasons. Small businesses are more prone to becoming insolvent but it happens to larger organizations as well, as can be seen in the recent news that Virgin Orbit Holdings have recently filed for bankruptcy under Chapter 11. The business was originally founded by the billionaire Richard Branson and filed for bankruptcy given they were unable to secure any kind of long-term funding after a launch in January proved unsuccessful.
Tags: Insolvency Practitioners, Simple Liquidation
