Apple’s sapphire supplier GTAT wants to cut ties
New information has emerged surrounding GT Advanced Technologies recent chapter 11 filing. GTAT is seeking approval from a judge to wind down its production of sapphire glass, which could result in a loss of hundreds of Arizona jobs.
The bankruptcy filing started when information became public that Apple only paid four out of five advances, but withheld a final $139 million payment due in October for unknown reasons. There are claims that Apple tried to help GT meet contractual obligations that would qualify the sapphire supplier to receive this final installment.
But alas, GTAT is moving forward with their case and requested that it file the details of this wind down under seal in bankruptcy court.
For its part, Apple said it remains dedicated to the jobs created in Arizona and is currently working with government officials to make sure those positions are not liquidated. It is not clear what the company intends to do if GTAT successfully closes the site.
Judge Henry Boroff has reportedly scheduled an Oct. 15 hearing to further examine the motion.
Contributions from Apple Insider and Business Insider