A Welsh construction company has gone into liquidation resulting in the loss of 102 jobs.
Contract Services (South Wales) Limited has traded in Port Talbot and Caerphilly for the last 21 years.
The company faced unexpected cash flow pressures earlier this year and as a result, the company ceased trading on 11 August.
Business rescue and recovery specialists Begbies Traynor will help the company enter the process of liquidation.
It is disappointing to see a leading Welsh business have to close its doors in this way after many years of successful trading, particularly one that prided itself on supporting a local SME supply chain, the communities it worked in and its employees through training and being an early adopter of the Living Wage.
We will be writing to all creditors over the course of the next few days with details of the liquidation process.
Contract Services (South Wales) Limited is set to enter voluntary liquidation on 22 August.
A dispute between the Welsh Government and the UK Government could be a major issue for rail users across Wales.Read the full story ›
There is a claim that a decision has already been made to privatise Network Rail infrastructure in Wales and the South Wales Valley lines.Read the full story ›
Lengthy delays and tailbacks could become the norm without proper planning in Welsh ports, a National Assembly Committee has warned.Read the full story ›
Chris Grayling announced plans to electrify lines in Wales, the Midlands and the North have been cancelled or downgraded.Read the full story ›
Conservative AM for South Wales East, Mohammad Asghar, has said the news of the closure of a Newport factory was disappointing.
The closure could put 150 jobs at risk.
He says the Welsh Government must take immediate action for workers to get alternative jobs in the area.
Packaging company Essentra is consulting on plans to cease production at its Newport carton firm by the end of this year.Read the full story ›
A major investor says he may be put off funding future Welsh projects if the UK Government doesn't give the go ahead to the lagoon.Read the full story ›
Small food and drink businesses are set to benefit from a £1.6million (€1.8million) programme to help increase their competitiveness.Read the full story ›
The Federation for Small Businesses (FSB) says the decision to scrap the rail electrification between Cardiff and Swansea "risks a psychological blow to economic and business confidence."
The promise to electrify the railway line as far as Swansea – made repeatedly by the past two Secretaries of State and the wider UK Government – was not just about cutting journey times, but was also about providing a 21st century infrastructure for business and showing ambition and growth for South and West Wales.
There has for some time been a unanimity of both business and political voices outlining the opportunity of electrification to Swansea and so it is disappointing that despite this consensus, the UK Government has chosen not to deliver against this proposal.
Losing the electrification scheme risks a psychological blow to economic and business confidence which comes at a time that we can ill afford it.
We would call on the UK Government therefore to commit now to other vital projects which can bolster economic confidence particularly the Swansea Bay Tidal Lagoon, the decision for which is now long-overdue but which we have always seen as a vital part of economic regeneration in the area.
We are reassured by proposals and commitments to upgrade and improve rail infrastructure west of Swansea which will serve to help open up the rest of the City Region and we look forward to hearing early detail on how these proposals will be developed.