Virgin Orbit files for bankruptcy
Less than a week after it laid off 85% of its workforce, Virgin Orbit’s management has filed for Chapter 11 bankruptcy.
Under Chapter 11, it appears the company can still be purchased and re-established, much like Firefly Aerospace was when it filed for bankruptcy. Since Richard Branson’s Virgin Group pumped a lot of cash into the company in the past six months, exceeding $70 million, it would get first crack at ownership rights. We should therefore not be surprised if Virgin Orbit comes back to life, owned by Branson and bought for pennies on the dollar, with the little stockholders and investors left in the lurch.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Less than a week after it laid off 85% of its workforce, Virgin Orbit’s management has filed for Chapter 11 bankruptcy.
Under Chapter 11, it appears the company can still be purchased and re-established, much like Firefly Aerospace was when it filed for bankruptcy. Since Richard Branson’s Virgin Group pumped a lot of cash into the company in the past six months, exceeding $70 million, it would get first crack at ownership rights. We should therefore not be surprised if Virgin Orbit comes back to life, owned by Branson and bought for pennies on the dollar, with the little stockholders and investors left in the lurch.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
We can watch the federal court filimgs and see who is on the creditors committee for the next clue. Robert Z is right about secured creditors having the upper hand. But without employee continuity IP assets tend to have little value except to patent trolls.