The Russian joint-stock company Monokristall is preparing to file for bankruptcy. The company has notified creditors of its intention to submit a corresponding application to the Arbitration Court of Stavropol Krai. This is reported by Ixbt.com reports .
According to financial reports, the company's short-term liabilities exceed its current assets by 3.7 billion rubles. This indicates that the company is facing a liquidity shortage in meeting its current debt obligations.
Monokristall is one of the world's leading manufacturers of synthetic sapphire. Its products are widely used in the production of protective glass for smartphones and smartwatches. In 2022, the company was among the top three global producers in this sector.
The company's management attributes the financial crisis to disruptions in raw material supplies, the closure of the European market, and a decline in demand for electronics in the Asian region.
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