Richard Branson’s Virgin Orbit has entered bankruptcy protection following financial difficulties. The company utilizes airplanes to launch rockets into the air and send satellites into space.
The bankruptcy has raised questions about the viability of the private sector-led space development market, with some wondering if this will lead to the bursting of the so-called “space bubble”.
Despite Branson’s claim that the advanced launch technology developed by his team will still be of interest to potential buyers, the bankruptcy protection filing appears to be the end of the road for the company.