In September, Diamond submitted its second motion to push its due date for its chapter 11 plan to October 29 with 90 days after to solicit votes, which would be December 29, 2025. It was decided to be due October 15 with the solicit period ending on December 15. Now, Diamond has submitted a third motion that guarantees this will go into 2026 as we expected.

The third motion would have the chapter 11 deadline pushed to January 13, 2026 and then a 91 day window to solicit votes which would put it at March 16, 2026.

With one day to go, it’s likely it’ll get pushed out yet again. The reasons provided are the same listed before:

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 nine months…;
• Diamond doesn’t believe this will “pressure creditors.”

What isn’t mentioned is the growing concern that (old) Diamond is actually insolvent, a concern being raised by its creditors and we’d expect to see some response raising that fear.