Highcon was officially put up for sale earlier this month, with an original deadline of Sunday 27 April and offers sought for the company and/or its assets.

This has now been extended until the end of the month.

In a filing yesterday, temporary trustees Ronen Matry and Omer Serviansky stated that the invitation to submit proposals had been extended to noon, Tel Aviv time, on 30 April.

Highcon ran out of cash in March and sought court protection to restructure under Israel’s Chapter 10 Insolvency and Economic Rehabilitation Law. Most of its employees have been laid off, with 20 remaining to maintain its operations and support customers.

Orders worth approximately $10m (£7.72m) were postponed amid geopolitical events, the Israel-Gaza war, and customer uncertainty over the impact of US tariffs.

Highcon makes digital die-cutting and creasing kit used in various applications including packaging, point-of-sale/display and corrugated. Its main products are the Beam and Euclid.

It currently has 64 customers around the world, with 85 systems installed.

A new device, the Vulcan targeted at the industrial corrugated market, was in development in Highcon’s R&D lab.

Highcon's assets include 16 families of patents, totalling 62 individual patents.

The business is listed on the Tel Aviv Stock Exchange, but trading in the firm’s shares was suspended earlier this month.

Last year Highcon posted a big increase in sales, up 117% at $18.2m and more than halved its losses from current operations to $10.8m (2023 loss: $23.3m). Highcon has negative equity of $15.9m.

All other conditions in the original invitation to submit proposals remain in effect.