“I wish humans had magic as we do,” said Scorch. Seeing her, Felix said, “What happened, Scorch?”
“Last week, Virgin Orbit announced that it was bankrupt (unable to pay off the debts) after the loss of a huge amount of money,” Scorch said.
“I don’t understand. Tell me more,” asked Felix.
“Virgin Orbit is a rocket company based out of California, United States. It is owned by British billionaire Sir Richard Branson. The company usually did its launches from the US but at the start of the year, it was set to launch a satellite from Spaceport Cornwall, a site in the UK (United Kingdom). This was a first-ever event and it was a big thing for both, the UK and Virgin Orbit.
However, the rocket’s fuel filter stopped working, and the engine heated up tremendously. The launch had failed.
Soon after in March, the company tried to raise funds (more money) to run its projects but failed to get any money. With the company’s debt (money that it owes to its lenders) running over 153 million dollars, it decided to declare that it has no money. The company said it will continue its basic operations and keep looking for a buyer to buy it,” explained Scorch.
“Oh! That is sure some turn of events. Magic would have helped them to succeed,” replied Felix.