Sir Richard Branson's satellite launch company Virgin Orbit has filed for bankruptcy protection in the US after failing to secure rescue funding.It comes after a Virgin Orbit rocket failed to complete the first satellite launch from UK soil in January.On Tuesday, the business lodged a Chapter 11 bankruptcy filing with the US Bankruptcy Court for the District of Delaware as it seeks a sale of the remaining business.

Sir Richard Branson's satellite launch company Virgin Orbit has filed for bankruptcy protection in the US after failing to secure rescue funding.It comes after a Virgin Orbit rocket failed to complete the first satellite launch from UK soil in January.On Tuesday, the business lodged a Chapter 11 bankruptcy filing with the US Bankruptcy Court for the District of Delaware as it seeks a sale of the remaining business.