Apple Tree files for bankruptcy as it seeks fresh funding from Russian billionaire backer
Apple Tree has filed for bankruptcy protection, initiating a court‑supervised process to address mounting financial pressures and debts.
The company is in talks to secure new funding from a Russian billionaire who has been (or is expected to become) a key financial backer.
The bankruptcy filing is aimed at restructuring Apple Tree’s obligations rather than immediately liquidating the business, suggesting an intent to continue operating if a rescue package is secured.
Negotiations with the Russian investor focus on providing fresh capital and potentially converting or refinancing parts of Apple Tree’s existing debt.
Creditors and existing shareholders are expected to face losses or dilution depending on the final terms of any restructuring and investment deal.
Regulatory and sanctions‑related considerations tied to Russian capital may complicate or slow the approval of any financing arrangement.
The outcome of the funding talks and the court process will determine whether Apple Tree can emerge from bankruptcy as a going concern or move toward asset sales and potential winding‑down.