The company entered Companies' Creditors Arrangement Act (CCAA) bankruptcy protection in May and began a restructuring process under the guidance of a court appointed 'monitor' which filed a 13-week cashflow forecast that showed the company had the reserves to stay the course.
Gandi also had its bid to register its US businesses with the US authorities under the Chapter 15 bankruptcy protection scheme accepted earlier this month.
Suppliers have offered a vote of confidence in the company, with the likes of Fujifilm Dimatix saying it "continues to support [Gandi] as best as possible and wants it to be successful."
Gandi to apply for extension to CCAA scheme
Grand format manufacturer Gandi Innovations and its Gandinnovations businesses will apply for an extension to the term of its bankruptcy protection which will end 19 June 2009.
