Founder and chief executive Mark Dixon, has implemented a year-long restructuring program during which the US division has renegotiated expensive leases taken during the IT boom, the Financial Times reported.
Too rapid expansion in the US, after it floated in the UK in September 2000, resulted in over-capacity leading to financial problems and a £103.5m operating loss in the fourth quarter of 2002.
In April this year, the group said it was trading close to break-even.
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens