The company's management has been in talks with accountancy firm BDO for the last three weeks, formulating a rescue plan in order to save the company and its 30 London-based staff, after its US office abandoned it last month.
The rescue packaged was led by chief operating officer Carl White and relied on investment from an Italian venture capital firm. It is understood that the firm pulled out on Saturday when it failed to appoint a representative to sit on the management board of the new company.
White said, "Our clients have been brilliant at sticking with us, and the staff have done everything they can to try and keep things going."
24/7 Europe ran into trouble last month when its US parent withdrew funding in order to concentrate on its US operation, which at the time faced being delisted from Nasdaq.