Business

Insolvencies edge up in cautious July, says R3 Wales

Published

7 months ago

August 21, 2025

CORPORATE and personal insolvencies across England and Wales rose slightly in July, reflecting caution among businesses and households as they continue to navigate economic uncertainty.

Figures released by the Insolvency Service show that corporate insolvencies increased by 1.4% to 2,081 cases compared to June’s total of 2,053, and by just 0.1% against July 2024’s figure of 2,078.

Bethan Evans, Wales Chair of R3, the UK’s restructuring, turnaround and insolvency trade body, said the data showed a mixed picture.

She explained: “Corporate insolvencies across England and Wales remained broadly stable last month, with trends showing a rise in Compulsory Liquidations and a slight uptick in Administrations, while Creditors’ Voluntary Liquidations and Company Voluntary Arrangements fell.

“This pattern may suggest that fewer directors are choosing to close their companies voluntarily, whether because they are seeing improvements in trading conditions or are caught in a holding pattern, waiting to see where the economy may head next.

“Compulsory Liquidations were higher this July compared to one and two years ago, as HMRC continues to take a more assertive stance towards enforcement, with greater appetite to recover unpaid taxes through the courts.”

The figures also highlight the broader economic picture. After a weak April and May, economic activity picked up in June, helping Q2 GDP to grow by 0.3%. While modest, Evans described this as “encouraging,” but said businesses were still delaying decisions.

“Many firms are sitting at a crossroads, delaying major decisions until they see which way the economy moves,” she said. “Directors are taking stock of their position and are assessing whether trading conditions are likely to improve and, in many cases, whether the cost-saving measures they may have already taken will be enough to keep their struggling business afloat.”

On the personal side, insolvencies rose by 1.8% in July, reaching 10,515 compared to 10,328 in June, and up 0.3% on July 2024.

Evans, who is also a partner at Menzies LLP, said: “The slight yearly rise in personal insolvencies has been driven by an increase in Individual Voluntary Arrangements (IVAs). Breathing Space registrations also increased by 14% compared to this time last year, reaching their highest level in more than three years.

“This points to a growing number of people seeking temporary respite from creditor action, allowing them time to assess their options and plan their next steps.

“For households, the main pressure continues to come from higher day-to-day expenses. Pay increases are often absorbed by everyday essentials, leaving little room for people to build savings or manage unexpected expenses. That lack of headroom is leaving people vulnerable to even small changes in their circumstances.

“My message to businesses and individuals in Wales remains the same: seek advice at the first signs of financial distress. Taking action early gives you more options and more time to make a considered decision about how to move forward in the best way for your circumstances.”

Business

Tenby sailing club works approved by national park

Published

1 day ago

March 24, 2026

Bruce Sinclair - Local Democracy Reporter

A CALL for works to Tenby’s listed building sailing club to improve energy efficiency for the community organisation has been given the go-ahead.

In an application to Pembrokeshire Coast National Park, Harrison Richards of Tenby Sailing Club sought permission for replacing 24 timber windows at the Grade-II-listed Tenby Sailing Club, Penniless Cove Hill, with new Accoya timber double-glazed units.

The application added: “An energy survey conducted by Dragon Energy Consultants highlighted the existing single glazing and rotten window frames as a significant contributor to the club’s energy consumption.

“Tenby Sailing Club is a community organisation which seeks to organise activities year-round but faces significant energy costs being housed in a historic building. The current windows are beyond repair, with cracked glazing, decay, water ingress, and poor energy efficiency.

“The two windows at balcony level are not included, as they were previously replaced and remain in good condition. All new units will replicate the existing profiles, dimensions, glazing patterns, and overall appearance, ensuring no visual change to the building’s character.

“The neighbouring three-storey harbour stores occupied by Tenby Sea Cadets have previously replaced the building’s windows with double glazing. This like-for-like replacement in appearance will improve durability, weather resistance, and thermal performance while preserving the special architectural and historic interest of the listed building.”

An officer report recommending approval said: “The Sailing Club was built as a warehouse c. 1825, abutting the C17 sluice. Originally wine stores, it was later used by the local fishermen for stores and is now the home to Tenby Sailing Club, established in 1936.”

It said no adverse comments to the proposals had been received.

It added: “The proposal is to replace the majority (24 total) of windows in painted timber, double-glazed with face-mounted glazing bars of traditional scale and profile. Whilst a modern practice of glazing, the proposal involves no loss of historic fabric, provides an obvious visual improvement and addresses concerns as to heating costs.”

It finished: “The scheme is considered to be in keeping with the character of the listed building, and its setting in terms of design and form. As such, the application can be supported subject to conditions.”

The application was conditionally approved by planners.

Business

Taxi fare shock in Milford Haven as drivers switch to meters

Published

1 day ago

March 24, 2026

Tom Sinclair

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

Published

1 day ago

March 24, 2026

Tom Sinclair

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.