Business
R3 Wales responds to May 2025 insolvency figures
CORPORATE insolvencies in May 2025 rose by 7.9%, totaling 2,238 compared to 2,074 in April 2025, marking a 15% increase from 1,946 in May 2024. However, this represents a 10.2% decrease from May 2023’s total of 2,493.
Personal insolvencies slightly decreased by 0.5% in May 2025 to 10,014, down from April’s total of 10,060, yet they have risen by 5.5% compared to May 2024’s figure of 9,493. Compared to May 2023’s total of 9,113, personal insolvencies have increased by 9.9%.
Bethan Evans, Chair of R3 in Wales—the UK’s insolvency and restructuring trade body—and Partner at Menzies LLP, commented: “The monthly rise in corporate insolvencies is largely driven by increases in Creditors’ Voluntary Liquidations and Administrations. Year-on-year, we’ve seen a notable rise in companies actively entering these processes and an uptick in Compulsory Liquidations. The economic landscape remains challenging, evidenced by directors proactively winding up their businesses and creditors, particularly HMRC, pursuing unpaid debts through court actions.
“Economic and geopolitical uncertainties are significantly reflected in current insolvency figures. April’s introduction of new National Insurance rates, an increase in the National Minimum Wage, and continuing concerns around US tariffs contributed notably to this challenging environment. These issues, compounded by persistently high inflation and rising operational costs, continue to impact business planning and viability.
“The ongoing uncertainty surrounding US tariffs has introduced additional complexities for businesses, forcing a shift toward reactive, short-term planning rather than strategic long-term approaches. While adjustments to tariffs offer relief to some industries, costs remain higher year-on-year, and several critical details are yet to be finalized.
“Domestically, businesses continue to struggle with increased National Insurance and wage expenses. To manage these heightened costs, many firms are reluctantly increasing prices, downsizing staff, or delaying expansion plans, raising potential concerns for broader economic health in the longer term.
“Despite recent growth in the construction sector, businesses within this industry remain challenged by slim margins, rising costs, and delayed payments. Meanwhile, retail and hospitality sectors face subdued consumer spending. These businesses urgently need strong summer performance to recover from recent setbacks, yet continue cautious approaches such as recruitment freezes, non-replacement of departing staff, and reduced hours for casual workers.
“In personal insolvencies, the minor monthly decline stems from fewer Debt Relief Orders and Individual Voluntary Arrangements (IVAs), although IVA numbers have grown year-on-year. Bankruptcy filings have also seen slight increases. However, the notable rise in Breathing Space numbers indicates more individuals are actively seeking debt management support, reflecting worsening financial pressures over recent months.
“The ongoing cost-of-living crisis continues to erode household purchasing power. Even though inflation has eased slightly, prices remain elevated, forcing consumers to tighten discretionary spending significantly. Households remain cautious, prioritizing essential spending, seeking discounts, and adapting shopping habits to stretch their budgets.
“We strongly encourage anyone facing financial distress, either personal or business-related, to seek professional advice promptly. Early engagement provides more options and greater opportunities for positive outcomes. Most R3 members offer initial consultations free of charge to discuss concerns and outline possible solutions.”
Business
Taxi fare shock in Milford Haven as drivers switch to meters
TAXI passengers in Milford Haven are facing a sudden jump in fares, as drivers increasingly switch on their meters and charge full council-approved rates.
One Herald reader said a short return trip from Milford Haven to Neyland cost £30 — around double what he expected to pay.
But drivers insist the prices are not new — they are simply the official tariff now being applied.
Under Pembrokeshire County Council rules, the standard daytime fare starts at £4 for the first mile (£5 after 6pm), rising by around £3 per mile thereafter. Waiting time is also charged, meaning even short return journeys can quickly add up.
Higher rates apply in the evenings, at weekends and on bank holidays.
End of the £3 taxi
Milford Haven has long been known for cheap taxis, with short in-town journeys often costing as little as £3 — far below official rates.
That was down to competition, older vehicles, and the need to keep prices low in a town where many rely on affordable transport.
Drivers say those days are now over.
One local driver told The Herald: “People got used to cheap fares, but that was never the real price. Now we have to use the meter or we’re losing money.”
Fuel costs biting
Most taxis run on diesel, now around 170p per litre locally. For drivers covering long distances each day, the increase has hit hard.
Global tensions in the Middle East have pushed up oil prices, feeding directly into higher fuel costs in the UK.
With fare increases requiring a lengthy council process, many drivers say they have no option but to charge the full tariff.
Vulnerable hit hardest
The change is being felt most by those who rely on taxis the most.
Elderly residents, people on low incomes and those without access to a car are now facing higher everyday travel costs.
There has been no recent increase in Pembrokeshire’s official taxi fares, which have remained broadly unchanged since 2022.
The difference is simple: drivers are now charging them.
As one put it: “We’re not putting prices up — we’re just finally charging what we’re supposed to be charging.”

Business
Cardiff Airport expects Easter passenger surge as demand rises
CARDIFF AIRPORT is preparing for a busy Easter getaway, with more than 46,000 passengers expected to travel through the airport over the holiday period.
The figure represents an 18% increase compared to the same period last year, reflecting growing demand for both sunshine destinations and European city breaks.
The busiest routes this Easter are set to be Alicante, Dublin and Málaga, with flights operated by airlines including Ryanair, Vueling and TUI Airways.
Travellers heading for warmer weather can also take advantage of direct flights to the Canary Islands, including Tenerife, Lanzarote, Gran Canaria and Fuerteventura, alongside popular destinations such as Faro and Palma.
The airport says the increase builds on a strong start to 2026, with passenger numbers continuing to rise.
Chief executive Jon Bridge said the airport is approaching the one million passenger mark and expects the summer season to be its busiest since the pandemic.
He said: “It’s been an incredibly positive start to the year, and we’re looking forward to welcoming more passengers over the Easter period.
“Our teams are working hard to ensure travellers can start their holidays smoothly.”
Passengers travelling over Easter are being advised to allow extra time for their journey and check with airlines for the latest updates.
A total of 46,158 passengers are expected to pass through the airport between March 27 and April 12, with arrivals and departures almost evenly split.
Cardiff Airport said it continues to expand its range of destinations, including the addition of a direct service to Toronto, as it looks to strengthen its role in connecting Wales to international travel.
Business
New pilot vessel Llanion arrives at Milford Haven
State-of-the-art 22-metre craft marks reset after £3.6m pilot boat controversy
THE PORT OF MILFORD HAVEN has taken delivery of a new 22-metre pilot vessel, marking a major investment in safety and operational capability on one of the UK’s busiest waterways.
The vessel, named Llanion, has arrived in Welsh waters following a successful delivery voyage from the Netherlands, where it was built by Next Generation Shipyards.
Designed specifically for pilotage operations, the new craft features a modern hull design, self-righting capability, and advanced safety systems, enabling it to operate in challenging conditions while supporting the safe movement of vessels across the Milford Haven Waterway.
Its arrival effectively brings to a close a long-running saga surrounding a previous generation of pilot boats built locally in Pembrokeshire at a reported cost of around £3.6 million. The Pembrokeshire Herald previously reported extensively on the issue, including a front-page story highlighting concerns about the vessels’ performance and suitability for operational use.
Those vessels were later withdrawn from frontline service following safety concerns raised by crews.
Since taking over as Chief Executive, Tom Sawyer has overseen a shift in direction at the Port, with a stronger emphasis on operational reliability, safety and long-term performance. The commissioning of Llanion is widely seen as part of that reset, addressing issues that had affected confidence in the pilot fleet.
Tom Sawyer said: “This project is a testament to collaboration and innovation. Working closely with our partners and our own technical teams, we now have a vessel that reflects the highest standards of design, safety and operational capability.
“Llanion will play a key role in supporting the safe and reliable movement of vessels on the Milford Haven Waterway for years to come.”
The new vessel is the result of a five-year collaboration between the Port of Milford Haven, naval architects BMT, Camarc Design and the Dutch shipyard, with Port teams closely involved throughout.
Dirk Keizer, Technical Director at Next Generation Shipyards, said the company was “extremely proud” to deliver the vessel, adding that it “excels in safety, performance and reliability.”
Ed Soothill, Technical Director at Camarc Design, said it was “wonderful to see Llanion arriving in Milford Haven,” while Steven Lee, Chief Naval Architect at BMT, described the vessel as “the Port’s next generation pilot boat.”
The Port of Milford Haven is the UK’s largest energy port and a key economic driver in Pembrokeshire, supporting thousands of jobs and handling a significant share of Britain’s oil and gas imports.
Photo caption:
New arrival: The Port of Milford Haven’s 22-metre pilot vessel Llanion (Pic: Port of Milford Haven).
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