Well, that company had to buy all the furnaces and when Apple was not happy with the yield rates, Apple called it quits leaving the other party with a huge debt. The owner bailed on the shareholders only when Apple was already out of the picture. So Apple pulled the plug first.
I see this as more a situation (all too common, unfortunately) of biting off more than one can chew. It wasn't just about furnace expenses and yields, if I understand correctly, but of them taking on something they were incapable of pulling off with $$$ in their eyes. I've seen this out in the business world way too often... you even hear expressed in a 'take the job, then figure out how to do it' kind of way.
So, IMO, the story goes more like... potential sapphire produce courts and BSs Apple into picking them as a supplier, then can't pull the job off. Apple then dumps them, and they go under because their debts are way too high to possibly survive.