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

https://www.npr.org/2023/04/04/ [login to see] /virgin-orbit-bankruptcy-richard-branson-rocket-chapter-11
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 to address our financial position and secure additional financing, we ultimately must do what is best for the business," Virgin Orbit CEO Dan Hart said in a statement.