Apple sapphire supplier GT Advanced Tech has today released a statement announcing that it is filing for bankruptcy under Chapter 11. Filing for Chapter 11 means the company will be able to continue normal operations until it can resolve issues with creditors. As of September 28th, GTAT had $85 million in cash.
What implications this has on Apple’s upcoming Watch wearable, which uses a sapphire screen cover for both Apple Watch and Apple Watch Edition models, is currently unclear. Apple also uses sapphire from GTAT in its iPhone lineup, for the camera cover and the Touch ID sensor.