Chief operating officer Jean-Manuel Croset said that an "external entity" that had expressed an interest in buying the company had not been able to do so because of objections by a minority shareholder.
Mandriva announced last month that due to disagreement among the shareholder over a recapitalisation plan, the company would probably shut down by January 16. That was extended to January 23 when an application to purchase the company was received; by the time the shareholders reacted, the month had ended.
Croset wrote: "Fortunately, the financial situation - far better than expected - allow us to search for a new way to solve the current issue until mid-February. We'll be able to count on the help of the Paris Region Economic Development Agency for this important move.
Mandriva is a GNU/Linux distribution of 1990s vintage; it was originally known as Mandrake Linux. It is well liked because it contains the latest software and is easy to use.