09 February, 2007
Scottish and Newcastle is taking consultancy firm Price Waterhouse Coopers to court, saying that PWC gave it advice designed to cut costs, which actually made the company spend more money. The brewer, which filed the claim last year, was advised on the restructuring of supply arrangements at its UK-based Scottish Courage subsidiary between 2001 and 2003. However, in February 2003, S&N blamed the restructuring, and ballooning associated costs, for a profits warning that led to a sharp fall in its share price. It is thought that S&N is claiming damages of £10 million.