Virgin Orbit Shuts Down After Bankruptcy Sales

Virgin Orbit, a bankrupt rocket company spun off from Virgin Galactic, is shutting down after selling its facility leases and equipment to aerospace companies in an auction. CNBC reports: Spun out of Virgin Galactic in 2017 by founder Sir Richard Branson, Virgin Orbit reached rarefied air by flying multiple missions. But difficulty raising funds, and slow execution, brought the once multibillion-dollar company to bankruptcy and ultimately shut down. Monday's auction bids amount to about $36 mill