Once a darling of the Mojave aerospace start-up scene, space plane builder Xcor Aerospace has filed for chapter 7 bankruptcy, the Los Angeles Times reported. A court document filed last week with the U.S. Bankruptcy Court for the Eastern District of California says the company has more than 100 creditors and assets estimated between $1 million and $10 million. Xcor’s liabilities are estimated in the filing to be between $10 million and $50 million. In a message sent last week to investors and company shareholders, Xcor Chief Executive Michael Blum and Chairman Tom Burbage said their effort to “find a financial future for Xcor has not succeeded.”
