The future of Valpak may be resolved after Christmas when proposed details of its restructure will be sent to its members.
These proposals come after an initial offer was made for the company by its management team in August 2011.
A statement put out by Valpak said: “As was previously reported, a number of unsolicited expressions of interest have been received and therefore the existing process was suspended. This was to allow time to consider these other expressions of interest in the best interests of the membership.
“Conclusions to this process have been reached and the court has approved the revised offer to be put to the membership in the New Year.”
Members have been informed that Valpak will send full details of the enhanced offer on 5 January 2012 and information on how to vote. The adjourned court meeting and general meeting will then be held at Valpak’s offices on 26 January 2012.