Branson’s Virgin Orbit files its Chapter 11 bankruptcy plan

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(Reuters) – Virgin Orbit Holdings and its subsidiaries in the United States filed its Chapter 11 bankruptcy plan with the U.S. Bankruptcy Court for the District of Delaware, the company said in a statement on Wednesday.

Earlier this month, Virgin Orbit Holdings Inc filed for Chapter 11 bankruptcy protection after the satellite launching business struggled to secure long-term funding following a failed launch in January.