The harshness of the economic climate has wreaked havoc on many professions, but administration does not appear to be one of them. The eye-watering fee chart drawn up by PricewaterhouseCoopers (PwC) for its work following the bankruptcy ofUK distributor Keydata shows 5,733 billable hours at a cost of just over £2 million for the period between June 8, when PwC was appointed, and July 20.
The biggest bill was for 'creditor enquiries', for which 2,130 hours of work produced a charge of £485,000. N
The week on Risk.net, July 7-13, 2018Receive this by email