FURIOUS businessmen have reacted angrily to being left high and dry by the collapse of Mustang Marine. 

• Local businesses out of pocket

• Claims local traders misled

Representatives from several local businesses owed money by the firm, which went into administration at the beginning of March, have approached the Herald about events that have left them among unsecured creditors owed in excess of £3.1m, who are not expected to get a single penny back. Each of those business people made it clear to the Pembrokeshire Herald that the only reason they extended such long credit lines to the boat building company was the repeated assurances given by senior Milford Haven Port Authority figures and former directors of Mustang Marine that their bills would be paid in all eventualities. One trader, who asked not to be identified told us: “I was told again and again that my business would be paid. I was told it by the Port Authority and told it by the directors of Mustang Marine. If I had not been told that I would be paid and led to believe that the Port Authority would make good on what Mustang owed me, I would have pulled the plug and taken my men off site. I know others were told the same thing.” Another businessman told the Herald: “It stinks. I could end up losing everything I have spent years building up. Mustang Marine were taking money from Svitzer intended for contractors working in the profitable part of the business, and instead of paying them the directors were using that money to prop up the losses Mustang was making elsewhere. “Fair dos to Svitzer, though, when they found out what Mustang Marine were up to, they started paying contractors direct and not through Mustang. If they hadn’t I would have gone bust, and so would’ve other people. I still might have to put the business through. “We (me and other businesses) were told that the Port Authority was behind it and there was no risk of us losing out. I think the whole thing needs investigating.” HSBC Bank and former Mustang Director Huw Lewis will receive around £270K and £296K respectively as secured creditors of the firm A claim by the Port Authority to be treated as a secured creditor in respect of combined loans made to Mustang Marine totalling £384K has been rejected by the Administrators, Grant Thornton, who have run up fees in excess of £190K since their appointment on March 3 to date. Former employees of the firm are owed a total of £104,292. Local businesses that have taken the biggest cash hits include, BDS Contract Services of Hubberston are shown as being owed in excess of a quarter of a million pounds, while Pembrokeshire County Council shows up as being owed over £66,000 by the failed company. Port Engineering of Milford Haven is owed in excess of £57,000 and JP Junior Scaffolding over £41K. None of those businesses were available for comment. The Herald put a question to the auditors about the status of a reported status debt of £329K owed by Mustang Marine to Marine & Port Services Ltd. A check at Companies House showed that it Marine & Port Services Ltd.’s address was a PO Box care of Milford Haven Port Authority and that it had been wound up in 2008. The Herald put a question to the auditors about the status of a reported status debt of £329,000 owed by Mustang Marine to Marine & Port Services Ltd. A check at Companies House showed that it Marine & Port Services Ltd.’s address was a PO Box care of Milford Haven Port Authority and that it had been wound up in 2008. A spokesman for the Grant Thornton told The Herald: “It’s simply a clerical error. Trading with MHPA was historically with Marine and Port Services Ltd.” He added “When trading changed to MHPA the clerical staff at Mustang did not update the ledger account name and continued to use Marine and Port Services when in reality they should have changed the account name to MHPA.” “The liability should be recorded in the books and records as MHPA.”