Accountants handling collapse of Sir Philip Green’s Arcadia earning £1,200 an hour

Experts handling the collapse of Sir Philip Green's Arcadia empire are raking in up to £1,200 an hour. Documents show accountancy giant Deloitte, now the group's administrators, estimates it will earn £25million in fees. The average "time costs" for staff in the first few months is over £600 an hour. However, in one area of work it was £1,202 an hour. An Arcadia worker who was earning £13 an hour, and is now losing her job, slammed the amount being pocketed by Deloitte: "It is absolutely disgusting," she said. "It's a joke." The worker, who asked not to be named, added: "We been trying to get information from them but it's always 'we cannot confirm, we cannot confirm.'" Deloitte is one of the group of powerful accountancy firms known as the Big Four, along with PwC, EY and KPMG. It was appointed as administrators for 27 Arcadia-linked businesses at the end of November. Deloitte is tasked with raising as much money as possible from selling assets to pay back those left out of pocket by Arcadia's collapse. Around £500million has been recouped so far, mainly through the sale of Arcadia's brands, websites and some stock. Online fashion giant ASOS has… Read full this story

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