As part of Diamond‘s chapter 11 process, it must submit a chapter 11 plan. At the end of July, the company submitted a motion to extend its due date to October 29, 2025 with 90 days to solicit votes for it which would be December 29, 2025.

The reasons given by Diamond, aka “cause,” are:

• It’s a complex case involving four jointly-administered Debtors with over 1,000 creditors and $80 million in debt;
• Diamond has made “good faith progress”;
• There’s still the consignment sale issue to deal with;
• Diamond is paying bills as they come in;
• There’s a plan coming and they need more time to monetize their assets;
• It’s only been seven months…;
• Diamond doesn’t believe this will “pressure creditors.”

Since then the dates for that were changed to October 15 and December 15 due to a response form the Official
Committee of Unsecured Creditors and now that motion with the updated dates of the 15th has now been approved by the court. So, this is all going to at least December.