"looks like Virgin Orbit put all eggs in one basket" Topic
3 Posts
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 20thmaine  | 31 Mar 2023 2:28 a.m. PST |
The unfortunate failure of the first Virgin Orbit satellite launch link seems to have spelt the end for the venture link Not sure where that leaves the Cornwall Space Launch Facility link but probably not in a great place. Pity. |
 etotheipi  | 31 Mar 2023 4:34 a.m. PST |
Not sure where that leaves the Cornwall Space Launch Facility Dr. Who set for the BBC? |
| 20thmaine | 06 Apr 2023 5:13 a.m. PST |
Filed for bankruptcy: link It has filed for what is known as Chapter 11 bankruptcy protection in the US. This allows a business to keep operating and address its financial issues while providing protection against creditors who are owed money.Former president of Virgin Galactic Will Whitehorn said the failed launch in Cornwall and the collapse of Silicon Valley Bank at the time it was trying to raise new funding contributed to its downfall. But Mr Whitehorn said the business deserved a second chance because there was "a lot of demand" in the industry. "What you have got to remember is they have got nearly 50 satellites into space already, so I think there's a chance they'll be back," he said. Melissa Quinn, head of Spaceport Cornwall, said the news about Virgin Orbit was "very sad" but said the site would "remain focused on furthering the international space industry". She said it was the only licensed spaceport in the UK, had multiple users and was working with other launch operators, such as US company Sierra Space. |
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