{"id":21981,"date":"2023-05-04T01:17:33","date_gmt":"2023-05-03T17:17:33","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/virgin-orbit-getting-closer-to-a-sale-with-court-approved-plan\/"},"modified":"2023-05-04T01:17:33","modified_gmt":"2023-05-03T17:17:33","slug":"virgin-orbit-getting-closer-to-a-sale-with-court-approved-plan","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/virgin-orbit-getting-closer-to-a-sale-with-court-approved-plan\/","title":{"rendered":"Virgin Orbit getting closer to a sale with court approved plan"},"content":{"rendered":"
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Virgin Orbit to be sold, whole or in parts<\/h2>\n

In a hearing in DC bankruptcy courts Monday, a judge approved plans for Virgin Orbit to be sold swiftly this month. The plan would allow potential buyers to submit bids for the company\u2019s assets or the company as a whole. The first deadline is tomorrow, May 4, for non-biding indications of interest, with the formal bid required by May 15.<\/p>\n

An auction will occur on May 18, with a hearing to formalize the purchase(s) on May 24. So if this all goes to plan, we will know if Virgin Orbit will live on in some fashion by the end of the month or be chopped up.<\/p>\n

The best outcome here would be the sale of the company as a whole. This way, Virgin Orbit and its 100 or so employees still on staff would be able to continue its work towards the launch of its next LauncherOne rocket sometime this year. The company recently announced it had finished its investigation into what caused the failure of its previous mission and that its next rocket is close to being complete.<\/p>\n

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