Image Entertainment Inc. has announced that the San Francisco company that promised to buy it could not close the $100 million deal by Friday as arranged.

Nyx Acquisitions Inc. also failed to deposit another $500,000 into a trust account to extend the merger closing date to March 26. That puts the affiliate of Q-Black LLC once again in breach of the merger agreement, which was amended last month to give the company more time to finalize financing for the deal.

Image, a Chatsworth DVD distributor, said its board plans to meet Friday to determine its next step. The company could decide to call off the deal and take the $2.3 million business interruption fee that Nyx has deposited in the trust account to date.

Nyx in November agreed to buy Image for $2.75 per share in cash, or about $60.2 million. The deal’s total value includes outstanding debt. But the firm has repeatedly missed deadlines to close the deal.