Virgin Orbit
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Virgin Orbit launched satellites using LauncherOne rockets released from a modified Boeing 747.
02 / Virgin Orbit FAILURE REASONS
Failure reasons
A January 2023 launch failure worsened funding pressure. The company could not obtain enough capital to sustain its operating rate, reduced staff and entered restructuring to sell the business and assets.
03 / EVENT HISTORY
Events in the structured record
- Founded
Virgin Orbit was founded in 2017 as a Richard Branson-backed spin-out developing air-launched LauncherOne rockets carried under a modified Boeing 747, 'Cosmic Girl,' to send small satellites to orbit.
- Failed Cornwall launch
In January 2023 the company's LauncherOne launch from Cornwall, UK — the first orbital launch from British soil — failed to reach orbit.
- Layoffs and bankruptcy
In March 2023 the company laid off 85% of its roughly 750 employees; on April 4, 2023 it filed for Chapter 11 bankruptcy protection after failing to secure funding to continue operations.
- Assets sold
In May 2023 Virgin Orbit sold its remaining assets for about $36.4 million — the Long Beach manufacturing facility to Rocket Lab for $16.1 million, the Mojave facilities to Launcher (Vast) for $2.7 million, and the 'Cosmic Girl' aircraft to Stratolaunch for $17 million — and ceased operations.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Launch failed
- 02
Long-term funding difficult to obtain
- 03
Operating capital insufficient
- 04
Staff reduced
- 05
Restructuring and asset sale sought