VORB - Virgin Orbit reportedly drawing up plans in case of insolvency

March, 20 2023 09:10 AM Virgin Orbit Holdings Inc.

2023-03-20 09:10:12 ET

Virgin Orbit ( NASDAQ: VORB ) is making plans for potential insolvency, according to reports from UK media.

Per the reports, the company has started slating contingency plans in case of insolvency after seeking funding in recent weeks. Sir Richard Branson also recently turned off the spigot for cash into the company recently, per reports . Both Alvarez & Marsal (A&M) and Ducera have been retained as restructuring firms, according to Sky News .

Shares of Virgin Orbit ( VORB ) dipped 5.6% in premarket action on Monday.

Read more about ongoing discussions about a potential buyout .

For further details see:

Virgin Orbit reportedly drawing up plans in case of insolvency

Company Name:	Virgin Orbit Holdings Inc.
Stock Symbol:	VORB
Market:	NASDAQ

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