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Virgin Orbit wants out of bankruptcy

Detailed contingency plan to solve economic problems of insolvency

The US company Virgin Orbit, which specializes in satellite launch and orbit systems, has begun to draw up a detailed emergency plan to resolve the economic problems of insolvency which have led to an interruption in the company's operations and fired the force-Work. 

According to rumors from the "Reuters" news agency, a meeting was held last week during which the CEO of Virgin Orbit, Dan Hart, told staff that the layoffs were intended to buy time for the company to finalize the new investment plan. There remains little clarity on the length of work leave.

In any case, the company's goal is to get itself out of its financial problems and resume full operations as soon as possible. For this reason, the Group is now working with the companies Alvarez & Marsal and Ducera, specialized in corporate restructuring, to build a tailor-made plan.
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AVIONEWS - World Aeronautical Press Agency