The reprieve follows an objection lodged by a creditor of the company that says it was not properly consulted about the bankruptcy proceedings.
The court has given the company until Wednesday to find the money. The company’s founder and acting chief executive is reported by FT.com as saying: “There is probably more chance of raising the E40 million needed to take the company through to profitability than the E4 million.”
The company employs 320 staff across Europe.