Virgin Orbit files for Chapter 11 bankruptcy protection; Arqit, US Space Force, iQPS among largest unsecured creditors

by Peter B. de Selding

PARIS — Small satellite launch service provider Virgin Orbit filed for U.S. Chapter 11 bankruptcy protection in the Delaware Bankruptcy Court listing assets of $243 million and debts of $153.5 million, with its largest unsecured creditors including satellite customers Arqit Ltd., the U.S. Space Force and iQPS of Japan.

Virgin Investments Ltd., a subsidiary of Virgin Group, has agreed to finance two senior secured loans totaling $74.1 million in debtor-in-possession (DIP) credit to permit . . .

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