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Mustang creditors furious

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creditors furiousANGER is growing amongst creditors of insolvent Pembroke Dock company Mustang Marine.

Local companies that have extended credit to the boat building firm have been left vulnerable, and in financial difficulty.

The Herald understands that other Pembrokeshire businesses are owed £330,000, with one firm claiming that they are owed nearly £70,000.

Speaking on the grounds of anonymity, the director of one local firm said: “We felt safe doing business with Mustang because it was listed as a subsidiary company of Milford Haven Port Authority.”

He added: “The Port Authority is sitting on a bank balance of millions of pounds, there is a moral responsibility to sort this mess out. That would provide economic and social benefits as it will prevent companies such as mine from laying off staff.”

The Milford Haven Port Authority Act 2002 says that the Port Authority’s right to invest in local firms ‘may be exercised if, and only if, in the opinion of the Authority the exercise of the powers is likely to provide economic, social, cultural or environmental benefits to all or some of the population of Pembrokeshire or any part of Pembrokeshire.’

Questions have been raised by the Welsh Government in Cardiff regarding the Port Authority’s responsibilities to local firms, but last week, Alec Don, Chief Executive of the Port Authority said: “The Port of Milford Haven is a 50% shareholder and remains a separate corporate entity to Mustang Marine. The Port is not liable for Mustang’s debts. Any specific questions about that business, including queries about creditors, must be directed to the administrators Grant Thornton.

“As a Trust Port we continually look to invest in growth and economic activity in the Port. On this basis, and in good faith, the Port of Milford Haven invested in Mustang Marine. The company approached us with a firm business plan and orders that required our support and investment to achieve.

“Any investment we make has to be balanced with our central commitment to keep the UK’s largest energy port operating efficiently, and safe for everyone who uses the waterway.

“This is a difficult time for all those involved in Mustang. Our priority now is to get new and sustainable businesses established as quickly as possible, both for employees and for businesses up and down the Haven who rely on this busy working port.”

MP’s questions

Simon Hart MP has written to Port Authority raising questions about the organisation’s responsibilities to local firms who are out of pocket. He spoke exclusively to the Pembrokeshire Herald yesterday about his concerns.

Simon Hart said: “The fact that Pembrokeshire companies are owed hundreds of thousands of pounds seems to have been glossed over. They cannot talk about growth and activity on the one hand and then refuse to even consider the plight of local people left out of pocket on the other. These people undertook work for Mustang as they felt comfortable that the company was part of a larger trading operation of which the Port was a central part.”

He added: “As far as the port accounts are concerned, Mustang was listed as a trading subsidiary. The Authority’s responsibilities are a legal question that I have put to chief executive, Alec Don. If you have a trading subsidiary then this is a different position, in my view, than if you are a minor shareholder. The Port Authority has always referred to Mustang as a subsidiary company. Every conversation that I have had about Mustang has been with Alec Don. He was very much sewn in the structure at Mustang. At the very least, the Port Authority should explain why it thinks it has no obligation at all to the many local creditors.

“I know that local companies did business with Mustang because they felt comfortable that it was part of a bigger organisation. Nothing was ever done to suggest that MHPA had no responsibilities. Rather than just say it’s not our problem, Alec Don should explain what the true legal position is.”

“The Port Authority’s employees have been embedded in the company. Frankly, I can understand why creditors may want to challenge the assertions of the Port Authority.”

Simon Hart concluded: “A question that I would like to ask is – Who in the Port Authority did the due diligence over the purchase of 50% shares in Mustang? Alec Don should explain very clearly, after the Port Authority has had such an intimate relationship with the company, why is it that now they are distancing themselves.”

Help for workers

Rebecca Evans, AM for Mid and West Wales, has welcomed an update from the Minister for Business, Enterprise, Technology and Science on the situation facing Mustang Marine and its workforce. In a letter to Assembly members, the Minister said: “The administrator is currently exploring all options for securing the future of operations at the site within the Enterprise Zone. My officials are working with the administrator and a number of potential third party investors to seek to secure the long term viability of the company. Those discussions are on-going and I will update members of the outcome of those commercial discussions as soon as I am able.

“As a government, we are determined to do all that we can to support the employer and its workforce at this difficult time and are working with the administrator to provide support and advice to any of the workforce in Wales facing redundancy through our ReAct scheme.”

Mrs Evans continued: “The news that Mustang Marine in Pembroke Dock had gone into administration with the loss of 66 jobs was a bitter blow for the area.

“I am glad that the Welsh Government is working closely with the administrator to try and find a secure way forward for Mustang Marine, and to ultimately save the remaining jobs. I sincerely hope that the Welsh Government’s work with the administrator leads to a positive outcome.

“I recently asked the First Minister what support and assistance will the Welsh Government offer to those 66 workers facing redundancy, and he told me that ‘those threatened with redundancy will be offered ReAct support and advice.’ I am glad that this is in place.

“I look forward the next update from the Minister, and hope for good news.”

ReAct is the Welsh Government’s Redundancy Action Scheme which has been put in place to help people affected by redundancy gain new skills and encourage recruiting employers to employ a worker who has been made redundant.

 

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News

Welsh rugby faces ticket slump as Six Nations sales stall

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WALES’ Six Nations campaign is facing an unexpected off-field challenge, with thousands of seats still empty for upcoming home fixtures at Cardiff’s 74,000-capacity Principality Stadium.

Figures from the Welsh Rugby Union ticketing platform show significant availability remains for all three remaining championship games in the capital. The shortfall is most noticeable for March’s meeting with Italy, while seats are also still on sale for clashes with France and Scotland.

For a tournament traditionally regarded as the crown jewel of the Welsh sporting calendar, such availability is unusual. Home internationals in Cardiff have long been considered near-guaranteed sell-outs.\

https://ichef.bbci.co.uk/ace/standard/1024/cpsprodpb/3d67/live/400bc7f0-296e-11ef-951f-bfad685c889d.jpg

Grassroots clubs counting the cost

Several community clubs allocated ticket packages are now scrambling to avoid financial losses.

Some club officials have taken to social media to try to shift surplus tickets. Others say they are facing invoices for thousands of pounds despite not selling their full allocations.

One grassroots representative told The Herald that unsold tickets could leave his club thousands of pounds out of pocket — a significant blow for volunteer-run organisations already balancing tight budgets.

Matchday prices range broadly depending on seating category, with some fans questioning whether the cost of attending still represents value for money.

Performance and politics

On-field struggles have coincided with uncertainty off it.

Wales endured a prolonged losing streak before breaking the run last summer and have not lifted the Six Nations title since 2023. A heavy opening defeat in this year’s championship has done little to restore confidence among supporters.

Away from results, tensions remain over the future structure of the professional regional game, with debate continuing about funding, governance and the long-term direction of Welsh rugby.

Sports economist Calvin Jones said sustained under-capacity crowds would be concerning, noting that international gate receipts form a major part of the sport’s financial model in Wales.

“The stadium is critical to the game’s financial health,” he has previously warned. “If reduced attendances became a trend rather than a one-off, that would raise serious questions.”

WRU confident of late surge

The Welsh Rugby Union insists supporter loyalty remains strong and says sales have accelerated since the tournament began.

Officials point to changing purchasing habits, with more fans buying closer to matchday rather than months in advance.

They remain confident that the atmosphere in Cardiff will remain vibrant when France visit, with hopes that traditional matchday traditions — from the anthem to the post-match celebrations — will continue to draw supporters through the gates.

Lowest crowds?

Historically, Six Nations matches in Cardiff have rarely dipped far below capacity. The lowest attendance in the tournament at the Principality Stadium came against Italy in 2002, while recent fixtures have generally drawn well over 60,000 spectators.

Whether the current dip reflects temporary frustration or a deeper shift in supporter behaviour may become clearer by the end of the championship.

For now, Welsh rugby finds itself fighting for momentum — both on the pitch and in the stands.

 

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Local Government

Hakin byelection set for March following death of Cllr Mike Stoddart

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A BYELECTION for Pembrokeshire County Council’s Hakin ward will take place next month following the death of long-serving councillor Mike Stoddart.

Cllr Stoddart, described as a “fearless campaigner for truth and justice”, passed away on January 4. He had represented Milford Haven’s Hakin ward since first being elected in 2004 and served the community for more than two decades.

His wife, Vivien Stoddart, represents Hubberston on the county council, while his daughter, Tessa Hodgson, represents Lamphey and currently serves as Cabinet Member for Adult Social Care.

Cllr Mike Stoddart

Well known for his forthright style, Cllr Stoddart built a reputation for challenging perceived failings and injustices within local government. Before entering politics, he co-founded the Milford Mercury newspaper with his family. In later years, he continued scrutinising council affairs through his widely read Old Grumpy website.

Paying tribute, Pembrokeshire County Council Leader Cllr Jon Harvey said: “Mike was the prime example of what someone in local politics should be – working for and demanding better for his constituents.

“Mike was unashamedly forthright. He would argue his corner with conviction and always with facts on his side.

“He has kept me and many predecessors as leader firmly on our toes. The chamber and Pembrokeshire as a whole will be much poorer for his loss.”

Cllr Jacob Williams, a friend and fellow blogger, described him as leaving “a formidable legacy”.

“I was first elected to the council with Mike in 2012, and he’s been an enormous part of my life ever since. To say he was my mentor wouldn’t do him justice – I couldn’t have wished for a better friend, and I’ll miss him dearly,” he said.

If the Hakin seat is contested, the election will be held on March 17. Nomination papers must be delivered to the Returning Officer at County Hall, Haverfordwest by 4:00pm on February 18.

Applications to register to vote must reach the Electoral Registration Officer by midnight on February 27.

The Hakin contest follows the recent Fishguard North-East byelection, held on February 10 after the death of Cllr Jordan Ryan. That seven-way contest was won by Plaid Cymru candidate Billy Shaw with 253 votes.

Full results were: Caleb Charles Churchill (Welsh Liberal Democrats) 135; Paul Stephen Howe (Welsh Labour) 83; Peter Martin John (Reform UK) 95; Brian Andrew Murphy (Welsh Conservative Party) 69; Teresa Ruth Tannahill (Independent) 79; Adrian John Adrian Tyrrell (Independent) 35; and William Cuthbert Linton Shaw (Plaid Cymru – The Party of Wales) 253.

 

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Business

Welsh business activity returns to growth as optimism hits 16-month high

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Output rises in January amid sustained increase in new orders

WELSH firms returned to growth in January, with business confidence climbing to its highest level in 16 months, according to the latest Cymru Growth Tracker from NatWest.

The Wales Business Activity Index — a seasonally adjusted measure of month-on-month changes across manufacturing and services — rose to 50.3 in January, up from 49.4 in December. Any reading above 50 signals growth, ending a four-month run of contraction for the Welsh private sector.

The improvement was supported by a continued rise in new orders, although the pace of expansion eased and remained only modest overall.

Business optimism strengthened for the third consecutive month, reaching its highest point since September 2024. Firms said they were hopeful that increased investment would help drive growth throughout 2026, despite ongoing concerns about the impact of higher prices on customer demand.

However, inflationary pressures remained elevated. Input costs rose at the joint-fastest pace since last August, matching December’s four-month high and remaining historically strong. Of the 12 UK regions monitored, only Northern Ireland recorded a sharper increase in cost pressures.

Welsh companies raised their selling prices for the second month in a row in an effort to pass on higher costs. The rate of price increases was the steepest since May 2025 and broadly in line with the UK average.

Despite the return to growth, staffing levels continued to fall. Workforce numbers declined at the fastest rate since December 2024 — the steepest reduction of any UK region — as firms cited financial pressures and cost control measures.

Backlogs of work fell at a marked pace, faster than in December, suggesting businesses were able to work through outstanding orders as output improved.

Jessica Shipman, Chair of the NatWest Cymru Board, said Welsh businesses were showing “growing optimism about future output”, but warned that cost pressures remained significant and were contributing to job losses.

Although activity returned to growth, the rate of expansion in Wales remained well below the UK average, and confidence levels were slightly weaker than the national trend.

 

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