Business
Company restructuring expert responds to January’s insolvency statistics in Wales

WALES’ Chair of R3, the UK’s insolvency and restructuring trade body, Tim Sloggett has commented on the publication of the January 2024 personal and corporate insolvency statistics for England and Wales, which shows that:
- Corporate insolvencies increased by 5% in January 2024 to a total of 1,769, compared to 1,685 in January 2023. This is lower than the year-on-year increase in January 2023 or 7.5%.
- Personal insolvencies increased by 4.3% in January 2024 to a total of 8,089, compared to 7,756 in January 2023. Despite this recent increase, personal insolvencies still remain 17% below January 2019 before the pandemic.
“On the face of it, the declining year-on-year rate of growth of corporate insolvencies appears to be positive news. However, underpinning this is a decrease in Creditors’ Voluntary Liquidations (CVLs) and an increase in administration appointments.
“In recent years the story has been very much a high volume of small companies closing and being placed into CVL. Administrations are more often used with larger companies compared to CVL’s, With news that the UK slipped into a recession at the end of last year, this now appears to be feeding through to larger businesses.
“In particular, the data shows that the main sectors facing challenges include retail, construction and accommodation and food services with insolvencies in these sectors significantly higher than they were prior to the pandemic, rising 141%, 68.5%, and 119.6% respectively compared to 2019 figures.”
Tim, who is a managing director at business advisory firm Quantuma, continues: “Personal insolvency numbers rose year-on-year. This is not unexpected given the cost of living crisis, but interestingly volumes still remain below levels before the pandemic.
“This may be because the number of Breathing Space processes used also soared to the highest levels since the process was introduced in May 2021, which indicates that this process may be achieving its purpose of providing people with more time to resolve their debt issues and avoid bankruptcy.
“Whilst there are positive signs of lowering inflation, food, fuel, housing and energy costs remain high and are likely to remain key concerns for many households.
“Since the pandemic insolvency practitioners have been given new tools to help rescue businesses. The introduction of the moratorium and restructuring plan help provide businesses with breathing space and an increased chance of restructuring its debts. However, these take time to implement, and anyone worried about their personal or business finances should seek advice as soon as possible. It’s such a hard conversation to have, but the sooner you take that step, the more options there are likely to be to rescue the business.
“Most R3 members in Wales will give a free consultation to prospective clients so they can understand more about their circumstances and outline which options may be best suited to them.”
Business
Stepaside dog salon that opened illegally allowed to stay

A CALL to allow a Pembrokeshire village dog grooming salon to keep running as the applicant didn’t realise he needed planing permission, has been backed by county planners.
Andrew Bird, in an application to Pembrokeshire County Council through agent Matthew Hitches Architectural Services, sought permission for a retrospective change of use of a domestic outbuilding at Roslyn Hill, Stepaside, to a dog-grooming salon, along with access alterations.
The change of use was completed last October.
Amroth Community Council has raised no objection to the scheme, other than concerns about its retrospective nature, and has welcomed the access improvements proposed, having previously raised concerns about road safety in the immediate area.
A supporting statement accompanying the application for the part-time business said: 2The applicant has been using the building for this purpose for several months and was unaware of the need to apply for planning permission, as the business is located within an existing outbuilding on the property.”
It added: “The salon is currently used on a part time basis, three days per week. The salon has just one appointment in the morning and one in the afternoon. So, the maximum number of visitors to the property would be six per week. The applicant has no intention of expanding the business any further.
“The vast majority of the applicant’s current clients live within Stepaside and Pleasant Valley and most will journey to the salon on foot. Although the business is situated within the countryside, it is considered essential that this business be situated in this location as it offers a valuable service to the local community.
“If the business were to be located elsewhere, this would mean local residents would need to travel by car to use such services. The number of customers arriving by car is minimal and there is considerable space for parking and turning within the property, if needed. It is therefore considered there will be no detrimental effect on highway safety.”
An officer report recommending approval said: “Whilst the proposal would not derive inputs from the land and would not be an enterprise for which a countryside location is essential. It is considered that due to the re-use of an existing building, associated noise effects a countryside location away from an urban environment would be acceptable.
“Furthermore, it can be considered that an urban/industrial setting is considered to be counterintuitive to the welfare of dogs could result in additional noise. As such, in this instance in can be considered that a countryside location may be acceptable subject to the acceptability of detailed considerations.”
The application was conditionally approved by county planners.
Business
Taberna Inn pub in Herbrandston could become a house

A CALL to regularise the conversion of a Pembrokeshire village pub, which became unviable due to changes in the hospitality industry as a result of the Covid pandemic, to a house has been submitted.
In a partly retrospective application to Pembrokeshire Coast National Park, Ms G Key, through agent Evans Banks Planning Limited, seeks permission for the conversion of the former Taberna Inn and associated flat in Herbrandston, near Milford Haven, to one residential dwelling.
Work started in March 2021 but has not been finished, the current application to regularise the situation.
A supporting statement through the agent says: “We understand that the property was purchased by the applicant in November 2020 and operated for four months as a public house on the ground floor.
“The property has therefore remained closed as a public house since that date and only used for residential purposes by the applicant. This current application therefore seeks to regularise the situation and enable the properly to be used as a single residential dwelling.”
It says the loss of the pub to the village will not be felt as strongly as elsewhere as Herbrandston has an alternative venue, Herbrandston Hub, which opened in February 2020, and acts a successful community venue and centre for the settlement’s sports teams.
“The use of the application site as a public house is therefore no longer required, and, as has been experienced by the applicant, not commercially viable,” the statement says.
It adds: “The pandemic had and continues to have many impacts on people’s lives and also their livelihoods, no more so than in the leisure and hospitality industries. With socialising patterns having now changed, many village public houses have found it impossible to continue to operate at anywhere near a viable level.
“Notwithstanding the above, whilst many villages in rural parts of Wafes have lost their one and only public house, Herbrandston is lucky in that there continues to be a vibrant location for its population to socialise, in the form of the Herbrandston Hwb.
“The application proposal will therefore not have a negative impact on the existing community facility and its loss will not reduce the current level enjoyed by the local population.”
It says the change of use will also lead to less traffic generation and potential disturbance for local residents.
The application will be considered by park planners at a later date.
Business
£21.2m investment in Port Talbot regeneration to create hundreds of jobs

Three major projects announced as part of Tata Steel transition support
A NEW £21.2 million package of regeneration funding will support more than 270 jobs in Port Talbot, with additional employment generated through construction and local business growth.
The investment—pending endorsement by the Tata Steel / Port Talbot Transition Board today (22 May)—will fund three regeneration projects expected to generate £119 million in Gross Value Added (GVA) for the local economy.
This announcement brings total investment from the Transition Board to over £70 million in just nine months, as part of efforts to support the area during Tata Steel’s transition to electric arc furnace steelmaking.
Projects supported by the funding:
- Advanced Manufacturing Production Facility and Net Zero Skills Centre – Harbourside, Port Talbot
Investment: £12.5 million
Total project value: £35 million (with additional funding from the Swansea Bay City Deal)
Impact: Supports 170 jobs, engages 150 businesses, and generates £89.1 million in GVA
The centre will deliver low-carbon and net zero skills training and manufacture specialist equipment, helping to anchor an Innovation District in the Harbourside alongside the SWITCH project and Innovation Park.
- Metal Box redevelopment, Briton Ferry
Investment: £6.9 million
Conversion and expansion of the former Metal Box site into modern business units.
- Sandfields Business Centre upgrade, Port Talbot
Investment: £1.8 million
Expansion and modernisation of premises to support growing and start-up businesses.
Together, the Metal Box and Sandfields projects will support 101 jobs and deliver £29.9 million in GVA by 2035.
Cross-party and local support
Secretary of State for Wales Jo Stevens, who chairs the Transition Board, said: “We promised to stand by the steelworkers, their families and the businesses of Port Talbot. This £21.2 million investment is a further step in delivering on that promise. The town’s future—through the Celtic Freeport, offshore wind and green steel—is full of potential.”
Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning, added:
“This investment complements the Swansea Bay City Deal and opens up high-value jobs, especially in renewable energy and manufacturing.”
Neath Port Talbot Council Leader, Cllr Steve Hunt, welcomed the funding:
“It is vital we help local people and businesses seize the opportunities decarbonisation brings. These projects support that goal while driving growth and future skills.”
Further funding and support expected
This is the sixth major announcement from the Transition Board, funded through £80 million from the UK Government. Additional funding is expected in the coming months.
Previous allocations include:
£30 million for supply chain support and worker retraining
£13 million business start-up and resilience fund
£8.2 million for a growth project generating £87 million in economic benefit
£3.27 million for mental health support in Neath Port Talbot
The UK Government has also committed £500 million towards Tata Steel’s new electric arc furnace in Port Talbot, alongside a broader £2.5 billion pledge to rebuild the UK steel industry.
More than 50 major employers, including Fintech Wales, The Royal Mint, and RWE Energy, have also pledged to support displaced Tata workers with guaranteed interviews, training, and coaching.
For full details or to apply for funding, visit the Tata Steel Transition Information Hub.
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