Deloitte could charge £22,000 per hour for Woolworths administration
28 Nov 2008, AccountancyAge.com, AccountancyAge
http://www.accountancyage.com/aa/news/1750639/deloitte-charge-gbp22-hour-woolworths-administration
Deloitte could be charging as much as £22,000 an hour plus expenses for taking control of Woolworths after it went into administration on Wednesday, industry experts have estimated.
The Big Four accountancy firm has devoted 100 staff to the project with the firm's five partners leading attempts to find buyers for the wholesale and retail businesses, The Guardian reported.
Partners in the insolvency arms of the big four accountancy firms charge up to £600 an hour, according to industry insiders and fees for senior managers are up to £400 an hour. It is believed that about 70 support staff are likely to be charged out for the Woolworths assignment at around £130 an hour each, the Guardian added.
Deloitte has become the fastest growing of the big four accountancy firms in terms of fees, gaining a reputation for aggressively pricing its work.
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Visitor comments
deloitte charge £22,000 per hour
what a disgrace it would have been cheaper and quicker to have told the 30,000 staff at wollies to sell the stock at what ever they can get for it and share the money between their selfs. all stores would have been cleared in one day
customers would have got a true sale bargain and the staff would have got a hand out for all their hard work
not the greedy administrators just like the greedy banks
Posted by: redrdh , 22 Dec 2008 | 00:00