Richard Branson's Virgin Orbit is working Ducera and Alvarez & Marsal to draw up insolvency plans in case it cannot secure funding from investors, according to Sky News
Virgin Group founder says the Russians are no longer fighting hand-to-hand combat, they are now 'leveling cities' on 'The Claman Countdown.'in case it cannot secure emergency funding from investors this week, according to Sky News.
Virgin Orbit paused all operations and furloughed most of its employees on Wednesday, two months after the company experiencedThe failure caused the company's shares to drop as much as 20% when it happened, "Virgin Orbit is initiating a company-wide operational pause, effective March 16, 2023, and anticipates providing an update on go-forward operations in the coming weeks," a spokesperson said on Wednesday.
In the meantime, Virgin Orbit leaders are meeting with prospective investors in a bid to restart its operation.
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