Virgin Orbit to Cease Operations

Dow Jones2023-05-24

By Stephen Nakrosis

Virgin Orbit Holdings said Tuesday it will cease operations following its bankruptcy filing and the sale of assets.

The space launch company said a hearing is scheduled for May 24 to seek court approval, with the transactions expected to close shortly thereafter.

In April, the company voluntarily filed for chapter 11.

The company was founded in 2017 and began commercial service in 2021.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

May 23, 2023 16:48 ET (20:48 GMT)

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