Branson’s rocket dream is over as Virgin Orbit folds after failed Cornwall satellite launches
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Richard Branson’s Virgin Orbit dreams have crashed down to earth.
He is shutting down operations months after a failed mission that left the firm fighting for survival.
It was hoped Virgin Orbit’s first launch from British soil would turn the UK into a global player in the space race.
Star flop: Virgin tycoon Richard Branson (pictured), is shutting down Virgin Orbit operations months after a failed mission that left the company fighting for survival.
But it ended in disappointment in January when the satellites launched from Cornwall failed to reach orbit because of technical issues.
Two months later, it laid off almost all of its staff and filed for bankruptcy protection in the US last month.
Branson has dumped the business, selling the assets for £29million to space start-ups.
Its Californian headquarters was sold to rival start-up Rocket Lab USA
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