Why Richard Branson's rocket company, Virgin Orbit, just filed for bankruptcy

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Cosmic Girl, a modified Boeing 747 used by Virgin Orbit, is seen in November 2022 in Newquay, England. Hugh Hastings/Getty Images

Hugh Hastings/Getty Images

The company founded by billionaire Richard Branson that modified a Boeing 747 to launch satellites into orbit has filed for bankruptcy, following a high-profile failed rocket launch in January.

Virgin Orbit announced on Monday that it was seeking Chapter 11 bankruptcy protection as it attempts to find a buyer for the financially struggling company.

“While we have taken great efforts

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