Virgin Orbit is a space launch company founded by Richard Branson.

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The company filed for Chapter 11 bankruptcy protection on April 4, 2023.

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The filing comes after Virgin Orbit failed to secure new funding.

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The company said the bankruptcy would allow it to restructure its debt and focus on its long-term goals.

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Virgin Orbit has raised over $1 billion in funding since its founding in 2012.

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The company has launched two satellites into orbit.Virgin Orbit's main competitor is SpaceX.

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 The bankruptcy could have implications for Virgin Orbit's future.

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It is unclear if the company will be able to emerge from bankruptcy.

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The bankruptcy is a setback for Branson's space ambitions.

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