Cedar is urging investors to approve a £3.8 million takeover offer or see the company collapse into insolvency.
Cedar has already recommended shareholders accept the rescue bid from private equity group Alchemy, fielded earlier this month. But so far acceptances received represent less than half the share capital.
In a statement the company said, In the absence of the Offer being declared unconditional in all respects, there is a substantial risk that Cedar would be unable to continue to trade solvently, and consequently the Directors would instigate formal insolvency proceedings.
