Virgin Orbit Scrambles to Secure Deal to Avoid Bankruptcy

Virgin Orbit is scrambling to secure a funding lifeline and avoid bankruptcy, which could come as early as this week without a deal, CNBC has learned.

The rocket builder paused operations last week and furloughed most of the company, as CNBC first reported, while it sought new investment or a potential buyout.

Virgin Orbit CEO Dan Hart and other senior leadership held daily talks with interested parties through the weekend, according to people familiar with the matter, who asked to remain anonymous in order to discuss internal matters.

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