GT Advanced said on Friday: "Only by closing these operations can we stop the increasing losses and refocus resources on the core business of selling sapphire furnaces and other products."
GT Advanced said that these planned operations are burning $1 million a day. "GT believes that the company will have numerous legal claims against Apple as a result of its business relationship with Apple," GT Advanced said in a document filed in bankruptcy court in Manchester, New Hampshire.
GT Advanced said it will not pursue unspecified claims at the beginning of bankruptcy reorganization, but these claims could allow GT Advanced to terminate several agreements with Apple. GT Advanced considers these agreements to be burdensome and of no value.
Apple has previously responded that it remains committed to retaining jobs in Arizona and is consulting with state and local officials on next steps.
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