News

MP wants answers over Mustang cash

Published

11 years ago

June 24, 2014

A LOCAL MP is now looking into the circumstances surrounding the collapse of boat building firm Mustang Marine in Pembroke Dock, the Herald can reveal.

Simon Hart MP has this week met with both Stephen Hammond, Parliamentary Under-Secretary of State for Transport, and David Jones, Secretary of State of Wales, to express his concern that local firms, who are owed hundreds of thousands of pounds, will not get a penny after the firm went into administration. He has also contacted Alec Don, Chief Executive of Milford Haven Port Authority, seeking clarification regarding a number of points which he feels are a cause for concern. MHPA has confirmed they have replied to the MP. Mr Hart told The Herald: “Milford Haven Port Authority (MHPA) is being disingenuous about the Mustang affair. As a Trust Port, it has both a moral and legal responsibility to the community, including the creditors.” He added: “I understand that Alec Don and Andrew Jones were the directors who signed off Mustang Marine’s accounts for 2012, which correctly stated under accounting guidelines that the company was a subsidiary of MHPA. “It is for this reason that I find Alec Don’s comments that he cannot account for the different terminology used by the respective auditors of the Port Authority and Mustang Marine confusing. “As a Trust Port accounts should be accurate, informative and in particular transparent. “Suppliers and sub-contractors have stated that they took comfort from the fact that they were dealing with a Trust Port’s subsidiary.” Local firms are owed around £600,000. Simon Hart told The Herald: “The reality is that in some 22 months after the Port’s involvement and management control of Mustang Marine, the Authority has suffered a loss of £2.7m and other parties have lost up to a further £2m. Many people have lost their livelihood and local companies have suffered substantial losses from which it may take years to recover.” In a further development, documents submitted by Mustang’s administrators, Grant Thornton UK LLP, have revealed that losses at the company were due to the failure to achieve assumed margins on new build projects – as well as other disruption and delays. They also revealed that an unprecedented expenditure of £375,000 on refurbishing the firm’s Pembroke Dock offices – which were leased from MHPA – had placed huge pressure on the company’s cash flow. A lack of robust business procedures in quoting for contracts; sub-standard project and performance management and inadequate reporting were all ultimately causes of the firm’s demise, according to documents now lodged with Companies House. Last week, The Herald revealed that MHPA were unwilling to pay the debts owed by Mustang. Alec Don said that the port had “a responsibility but not a legal liability to the creditors.” But Simon Hart told The Herald: “In its accounts, the Port Authority described Mustang Marine as a subsidiary company – credit searches made by businesses supplying Mustang also confirmed this – but once the company entered into administration the Port decided to distance itself from the firm. “It is questionable that when the rain started coming in, they took a step back”, he added. The Herald can reveal that what money is left is quickly dwindling – Grant Thornton is being paid on average £253 per hour to administer the firm and have so far billed hundreds of hours. There are also questions being asked this week about £103,000 which was paid by the struggling firm to directors by way of fees before it collapsed – this is a similar figure to the £104,290 currently owed to Mustang employees. Last week The Herald confirmed that HSBC Bank Plc and Mustang Director Huw Thomas Lewis, who are owed £274,000 and £296,000 respectively, are likely to be paid out as their loans to the company are secured by way of a debenture. Unsecured creditors are owed £3,143,725.

The Herald put questions to Alec Don, chief executive, Milford Haven Port Authority

THE PEMBROKESHIRE HERALD met with Alec Don, MHPA Chief Executive, at his office yesterday (Thursday).

The Herald put it to Alec Don that as a Trust Port, the Authority had a responsibility to all stakeholders: including port users, employees and the local community over Mustang, and the trail of debt left behind. He replied: “We do not feel there is a moral or legal responsibility but at the same time, as a Trust Port, we want to be on standby to do what we can to help. We have done masses to assist including giving extra time to pay rent.” “We will be putting money into a community interest company which will be operated by Haven Marine Services Limited. The aim of the CIC will be to help the creditors of Mustang get back some of the money they are owed.” Asked if the Mustang project was too much of a gamble for the Port, Alec Don said: “Mustang was a joint venture with MHPA. We wanted it to succeed. We wanted to support them as a business that was trading around the port.” He added: “The reason for the failure of the company in my view was due to the company trying to build two boats – both the first of their class – at the same time. Those projects went wrong. In fact, the whole Mustang project was a hell of a challenge.” Alec Don said: “It is easy to make comments after the event with the help of hindsight. What was clear is that the customers of Mustang felt that the products it was delivering were of the highest quality.”

THE NEW MUSTANG

Alec Don said: “The new Mustang company – Mustang Marine Ltd – will now have to prove themselves in the market. But, they are led by a strong management team. Kevin Lewis (A former director of Mustang Marine (Wales) Ltd) is working with the new company, and he is the person who brings most knowledge from the old business to the new business. There are new people and new capital. There are new investors to bring strength. The new chairman of Mustang is Mark Meade, who has strong commercial skills.” He added: “We cannot pay Mustangs debts because we have a responsibility to the rest of the business. We have volatile earning streams. Earnings are going up and down. We need to maintain a strong balance sheet. We cannot honour the aspirations of the Port if we act as charity.” “We want to do what we can to support businesses in the port, but we have to remember that we are building the haven’s future, where the future is unpredictable.” Andy Jones from MHPA, also at the meeting said: “We are here to ensure the stewardship of the port for future generations, and this is something that we have to do diligently.” Mr. Don did not wish to comment about reports that MHPA had sent a report to the Department of Transport following the collapse of Mustang. But he did say: “The DoT, as an important stakeholder, would be interested on the impact the collapse of Mustang might have in the Port.” He also said that the reasons why £103,000 was paid to directors of Mustang as it was losing money was now a question for the administrators. Alec Don concluded the meeting by saying: “I bitterly regret that Mustang went down. We lost £2.7m. We are pleased though, that new businesses have emerged safeguarding 40 jobs in and around the haven.” He also said that a reference in the MHPA annual report to Mustang as ‘subsidiary’ was actually a mistake, and it was not meant in the “true legal sense”.

Farming

Basic Payment Scheme 2025 balance paid to 95% of Welsh farmers

Published

7 hours ago

December 14, 2025

Tom Sinclair

Final year of BPS as transition to Sustainable Farming Scheme begins

The WELSH Government says more than ninety-five per cent of farm businesses have now received their full or balance payment under the final year of the Basic Payment Scheme (BPS), ahead of the introduction of the new Sustainable Farming Scheme (SFS) in 2026.

Announcing the update on Friday (Dec 12), Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs, Huw Irranca-Davies, confirmed that over 15,400 Welsh farm businesses have been paid £68.7m. This comes on top of the £160m issued in BPS advance payments since 14 October.

Final round of BPS payments

The Basic Payment Scheme, which has been the backbone of farm support in Wales for a decade, provides direct income support to help farmers plan and manage their businesses. BPS 2025 marks the last year in which full BPS payments will be made before the scheme begins to be phased out.

The Cabinet Secretary said officials would “continue to process the outstanding BPS 2025 claims as soon as possible,” adding that all but the most complex cases should be completed by 30 June 2026.

Payments issued today represent the main balance due to farmers following earlier advances, giving many businesses the cash flow they need during the quieter winter period—traditionally a challenging time in the agricultural calendar.

Shift to Sustainable Farming Scheme in 2026

From 1 January 2026, the Welsh Government will begin rolling out the Sustainable Farming Scheme, a major reform to how agricultural support is delivered. The SFS will reward farmers for environmental outcomes such as habitat management, carbon reduction and biodiversity improvements, alongside continued food production.

The government has argued that the new scheme is essential to meeting Wales’ climate and nature targets while ensuring long-term resilience in the sector. However, the transition has been closely watched by farming unions, who have raised concerns about the administrative burden, income stability, and the speed at which BPS is being phased out.

Mr Irranca-Davies reaffirmed the government’s stance, saying: “This government is steadfastly committed to supporting Welsh farmers to sustainably produce quality food. This is demonstrated today in our payment of the BPS 2025 balance payments and will continue throughout the transition period.”

Sector reaction

Farming unions are expected to scrutinise the detail of today’s announcement, particularly around remaining unpaid cases. Last year, late payments led to frustration in parts of the sector, with unions calling for greater certainty as the industry faces rising input costs, supply chain pressures and continued market volatility.

The move to the SFS remains one of the most significant agricultural policy changes in Wales since devolution. Ministers insist the shift is designed to support both food production and environmental stewardship, while critics warn the transition must not undermine farm viability—especially for family-run livestock farms that dominate rural areas such as Pembrokeshire, Ceredigion and Carmarthenshire.

What happens next

Farmers still awaiting their BPS 2025 balance will continue to be processed “as soon as possible”, the Welsh Government said. Officials will also publish updated guidance on the Sustainable Farming Scheme ahead of its launch.

The coming year will therefore become a pivotal moment for Welsh agriculture, as the long-standing BPS framework—which provided over £200m annually to Welsh farmers—makes way for a new results-based model that will shape the industry for decades to come.

News

Improved train timetable launches across Wales

Published

7 hours ago

December 14, 2025

Tom Sinclair

Extra services, later trains and boosted Sunday routes as £800m rail investment takes effect

An improved train timetable has come into force across Wales today (Sunday, 14 December), with Transport for Wales (TfW) introducing more frequent services, stronger connections and additional late-night trains on key routes.

The winter timetable update brings one of the most substantial uplifts in recent years on the Wales and Borders network, forming part of the Welsh Government’s ongoing £800 million investment in brand-new rolling stock and reliability improvements.

More trains and later journeys

Among the upgrades, passengers will see:

A new hourly additional service between Chester and Wrexham, effectively doubling the frequency on one of the region’s busiest commuter corridors.
An extra train in each direction every day on the Heart of Wales line between Swansea and Shrewsbury.
Three later last trains from Cardiff to Treherbert, Aberdare and Merthyr Tydfil, supporting shift workers and the night-time economy.
A new hourly Sunday service on the Coryton line in Cardiff.

Cabinet Secretary for Transport and North Wales, Ken Skates, said improved connectivity was “absolutely vital” for economic growth and passenger confidence.

“These changes will make a real difference to customers, who will benefit from more services and greater connectivity,” he said. “This has been made possible by our £800m investment in brand-new trains for the Wales and Borders network.

“We will see the doubling of trains between Wrexham and Chester and a later service from the capital to valley communities. In South Wales, people will continue to benefit from simpler, fairer fares through TfW’s Pay As You Go service, and its forthcoming introduction in North Wales will help even more passengers access easy, transparent pricing.”

Full details of the updated timetable are available at: tfw.wales/service-status/timetables

News

Wrecked guard boat still under watch off north Pembrokeshire coast

Published

7 hours ago

December 14, 2025

Tom Sinclair

Tidal changes monitored after dramatic early-morning rescue

A GUARD VESSEL that ran aground off the north Pembrokeshire coast in the early hours of Thursday morning (Dec 11) remains under close observation as tides continue to shift.

The Resolute, a 24-metre guard boat understood to be working for an offshore wind project off the Irish coast, had been sheltering in worsening weather when she was pushed onto rocks near Aber Hywel, Dinas, shortly after 3:25am.

Four crew members were onboard when the vessel grounded in rough seas and a strong southerly wind.

Major rescue effort launched

The crew issued an emergency alert, prompting a full multi-agency response.
A coastguard rescue helicopter, both Fishguard RNLI lifeboats, and coastguard teams from Fishguard and St Davids were sent to the scene.

Turbulent air made a winch rescue impossible and Fishguard’s all-weather lifeboat was unable to get close due to cliffs and submerged hazards. The inshore lifeboat was instead deployed to attempt a transfer in extremely challenging conditions.

During the evacuation, the third crew member descending to the vessel’s life raft slipped, fell into the water and was swept away. Speaking afterwards, RNLI crew member Cedwyn Rogers said the team immediately switched into “hyper-focused” mode as training took over.

Despite the casualty drifting, helm Warren Bean — a volunteer with more than 30 years’ RNLI experience — manoeuvred the lifeboat alongside, allowing crew to haul the man to safety. The remaining crew member was then retrieved, and all four were taken aboard the all-weather lifeboat and brought ashore to Fishguard.

All rescue units were later stood down.

Vessel still stranded and taking on water

The Herald understands that the Resolute remained aground on the rocks yesterday and was taking on water. The crew were later assisted back onboard by a local fisherman to assess damage on behalf of the vessel’s operators.

Management representatives from Ireland were due to arrive to draw up a recovery plan, including arrangements to remove fuel to prevent any potential environmental impact.

Further inspections have been taking place today as the team evaluates the next steps.

Coastguard statement

A spokesperson for HM Coastguard said: “At 3.28am on Thursday morning, HM Coastguard was made aware of a vessel with four persons onboard aground on rocks at Fishguard, Pembrokeshire. RNLI lifeboats and coastguard rescue teams from Fishguard and St Davids were sent to the scene. The four people aboard were rescued by lifeboat, and the helicopter was stood down. The vessel, which is still aground, is being monitored as tidal conditions change.”