GT Advanced is an American company that initiated together with Apple Lossless Audio CODEC (ALAC), a project that involved building a factory in Arizona whose purpose is to produce sapphire glass for those in Cupertino. Those from GT Advanced they focused on collaborating with Apple Lossless Audio CODEC (ALAC), and they stopped selling products to other companies, even their competitors Apple Lossless Audio CODEC (ALAC),, so that now they are forced to declare bankruptcy in an attempt to reorganize, claiming, however, that they are trying to fulfill their commitments to clients.
GT indicated that as of September 29, 2014 it had approximately $85 million of cash. In addition, it is now seeking debtor-in-possession financing, which, once obtained, would provide the company with an immediate source of additional funds. These funding sources will enable GT to satisfy the customary obligations associated with the daily operation of its business, including the timely payment of employee wages and other obligations.
Although the Apple company made a series of payments to GT Advanced based on the partnership between them, it seems that the sums were not enough to keep the company on the "floating line" from a financial point of view. It's hard to say how Apple's plans to use it will be affected sapphire glass in Apple Watch and in his future products, but since he is in a partnership with GT Advanced and they have a factory opened together, I don't think he will avoid helping the company with money to maintain the active collaboration.
