- 31 updates
Aled Owen, of Red Kite Law, says Dafydd Raw-Rees - the owner of Farmbox Meats Ltd in Llandre - is losing around £4,000 a day while a Food Standards Agency investigation is ongoing.
He added the business is fully cooperating 'to bring the matter to a early conclusion'.
The solicitor for the west Wales meat processing company which has been accused of mis-selling horse meat as beef says all of its meat products can be accounted for and are from "good, reputable sources."
In a statement Aled Owen said the company denies any wrongdoing.
Mr Owen adds that the company officers and their families would like to thank friends and neighbours for their support at this difficult time.
Steve Wearne, the Director of the Food Standards Agency in Wales speaks to ITV News's Joanna Simpson about the ongoing investigations into a meat processing plant in Aberystwyth.
The Welsh Government says it's taking a close interest in the UK-wide investigations which led to the raid on Farm box food. UK Government officials are taking the lead because food labelling isn't a devolved matter.
But I understand the Deputy Minister for Agriculture Alun Davies took part in a phone conference earlier today with Whitehall officials and those from other devolved administrations. He's also issued a new statement:
Number 10 sources say that the Food Standards Agency raid on Farmbox Food was the result of investigations which began in mid-January. It was part of co-ordinated action by officials, agencies and the police across the UK and at a European Union level.
The Deputy Minister for Agriculture, Alun Davies, has told ITV News that Welsh beef is of the highest possible quality and that the allegations that emerged yesterday involve one meat processor and do not reflect a "wider problem."
The AM representing Ceredigion says the Food Standards Agency raid on Farmbox Foods at Llandre near Aberystwyth has dented confidence in the whole of the meat industry. Elin Jones, who's a former rural affairs minister, says there now need to be spot checks of meat on sale in shops.
Prime Minister David Cameron has called the horsemeat scandal an "appalling situation", stressing that if criminal activity has taken place "there should be the full intervention of the law".
Speaking at Prime Minister's Questions, Mr Cameron said an enhanced testing regime not only found contamination, but discovered that in some instances horsemeat had been passed off as beef.
He called the discovery "completely unacceptable".
Latest ITV News reports
Approved supplier Welsh Bros Foods confirmed a sample of its frozen minced beef has 'potentially tested positive' for above 1% horsemeat.
The Welsh Government says it is working with the police to ensure allegations of horse meat at a plant in west Wales are dealt with.