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The Latest Breaking News from Richard Branson

Branson’s rocket-launch firm Virgin Orbit files for bankruptcy

Virgin Orbit Holdings Inc. filed for bankruptcy after the satellite launch firm tied to British billionaire Richard Branson failed to secure the funding needed to keep operating and cut about 85% of its staff.

Tribune News Service

Musk’s SpaceX has once less competitor as Virgin Orbit files for bankruptcy

The startup founded by the Brit will not attempt to reorganize under protection from creditors but instead will pursue an outright sale.

Fortune

Virgin Orbit seeks bankruptcy protection after mission fail

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 Independent UK

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Richard Branson’s Virgin Orbit files for bankruptcy after failing to find funding

California-based company forced to cut 85% of workforce after struggling to secure investment

The Guardian - UK

Richard Branson’s Virgin Orbit files for bankruptcy

Richard Branson's Virgin Orbit Holdings is seeking a sale of its assets after announcing the layoff of about 85 per cent of its 750 employees last week.

The New Daily

Worst April Fools' Day pranks that backfired spectacularly - from UFO scare to minions

Kick back, relax, and reflect on the worst April Fools' Day pranks, if you dare. Be warned, some extreme tricksters risked arrest or caused chaos with their ill-planned projects

Daily Mirror

Long Beach's Virgin Orbit lays off 675 people, 85% of its workforce

Richard Branson's Virgin Orbit is laying off about 675 employees, or 85% of its workforce, as the air-launched rocket company failed to find funding to sustain its operations.

Los Angeles Times

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4 young founders bought a $40 million Utah ski mountain to build a utopia for tech elites. What could go wrong?

A group of twentysomething entrepreneurs created the wildly successful Summit Series conferences. But building an "intentional" and eco-friendly resort community for the rich and famous is quite a different undertaking.

Fortune

Spaceport Cornwall boss says Virgin Orbit cuts pose ‘no direct impact’ on project

Sir Richard Branson’s US satellite firm has confirmed it is cutting hundreds of jobs, months after it attempted to launch a rocket into space from the South West space cluster

Birmingham Post

Virgin Orbit's sudden collapse is the latest in a series of high-risk failures by Richard Branson

The satellite deployment startup founded by Branson is letting go of the bulk of its staff citing an 'inability to secure meaningful funding'.

Fortune

Richard Branson's Virgin Orbit slashing 85% of its workforce

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission

The Independent UK

Richard Branson’s Virgin Orbit lays off 85% of staff and ceases operations

Virgin Orbit said that the layoffs will impact around 675 employees across all areas of the company with equates to around 85% of staff

Daily Mirror

Virgin Orbit cuts 85% of workforce after failing to secure fresh funding

Decision raises fears that company founded by Sir Richard Branson may be on verge of collapse

The Guardian - UK

Richard Branson loses £1.5 billion from plummeting Virgin Orbit shares amid funding crisis

Sir Richard Branson has lost a staggering £1.5 billion from his stake in Virgin Orbit over the past year after the company’s share price plummeted more than 95%.

Evening Standard

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Tribune News Service

Virgin Orbit ceases operations after failing to find funding

Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.

Daily Record

Richard Branson surprises Edinburgh locals with Scottish-themed street celebration

It comes after Virgin Red left a mystery box on the Royal Mile yesterday to mark the grand opening of a new hotel.

Edinburgh Live

Sir Richard Branson opens Edinburgh Virgin Hotel and tells of his roots in the city

The billionaire entrepreneur officially opened the 222-room hotel on Friday, with it not only being the first hotel carrying his Virgin brand in the UK, but also in Europe.

Insider UK

Branson tells of Scottish roots as he opens Virgin Hotel in Edinburgh

The old town property is the company's first in Europe

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The Independent UK

Richard Branson tells of Scottish roots as he opens Virgin Hotel in Edinburgh

The entrepreneur spoke of his Edinburgh links as he welcomed guests to his new hotel in Edinburgh.

Space

Virgin Orbit restarts operations with 'small' team as it works on finance deal: reports

Launch company Virgin Orbit is bringing back some of its furloughed employees after putting them on leave last week, according to media reports.

Space

Virgin Orbit eyes options as it works to generate cash flow: report

Launch company Virgin Orbit is engaging companies for discussions after furloughing most of its staff last week, according to media reports.

Birmingham Post

Spaceport Cornwall focused on space cluster growth as Virgin Orbit pauses operations

Richard Branson’s US satellite launch firm is working to secure additional funding for future launches and has furloughed staff, according to reports

Los Angeles Times

Richard Branson's rocket-launch firm Virgin Orbit pauses operations, furloughs staff

British billionaire Richard Branson's rocket-launch firm Virgin Orbit has paused operations as the company searches for more funding.

The Independent UK

Richard Branson’s Virgin Orbit pauses operations while it seeks extra funds

The satellite launch company has reportedly furloughed staff and is working to secure new funding.

Daily Mirror

Richard Branson's Virgin Orbit pauses space operations with 'staff set to be furloughed'

A spokesperson for Virgin Orbit confirmed the "operational pause" in a statement, but did not comment on the furloughs

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