Around 130 jobs are at stake as a boatbuilding and repair firm based in Pembroke Dock announced it could enter administration.

Mustang Marine which saw its new £1.5m construction hall opened last November, by Economy Minister Edwina Hart, has been in difficulties since before Christmas, when directors reported significant losses to its shareholders.

It was hoped that a rescue package, involving the Welsh Government, Milford Haven Port Authority and an external third party, would ensure the company's long-term future.

An announcement was made to staff this week, that directors are now looking for other funding after the third party's offer was withdrawn.

The leader of Pembrokeshire County Council, Clr. Jamie Adams, gave the following response to the news.

"This is a sad day for the employees of Mustang Marine and their families who now have to go through some days of uncertainty. I have the utmost sympathy for them," he said.

"It was only a few months ago, in November, that the prospects for the company seemed so rosy with the Economy Minister Edwina Hart travelling to Pembroke Dock to open Mustang Marine's new £1.5 million boat building construction hall.

"It was hailed as a new dawn for boat building in the town and I hope that a rescue package can still be put together even at this late hour."

Clr. Adams said that the county council's Futureworks and Workdays teams would be contacting the company to arrange to meet staff and help them to find alternative employment should the company fail in the next few days.

Practical help which can be given includes identifying any future training needs which could assist in securing work or advice on compiling CVs.

"We will be working in close collaboration with other agencies such as Jobcentre Plus to offer as much support as we can," he added.