Sir Richard Branson’s rocket company Virgin Orbit has shut down, just months after a major mission failure.

It comes weeks after the firm set up to launch satellites paused operations to try and boost its finances.

It had been selling off items it owns in a bid to survive, including its jet, named Cosmic Girl, as well as most of its headquarters in California.

In January, its first ever satellite mission in the UK reached space, but fell short of its target orbit.

The mission was billed as a milestone for UK space exploration.