PwC “Milking The Cash Cow Dry” On Carillion, Say MPs

MPs have accused PwC of “milking the cash cow dry” after it was revealed it is charging £44.2m for one year’s work as special managers on the administration of Carillion. The construction company collapsed last year with £7bn in liabilities. Frank Field, chair of the Work and Pensions Select Committee, and Rachel Reeves, chair of the Business, Energy and Industrial Strategy Committee, shared letters they exchanged with the Insolvency Service that revealed the fee total. The Big Four firm had already announced that its partners working on the insolvency of Carillion were paid up to £1,156 per hour. Read more