Post by Bob on Aug 3, 2011 19:23:09 GMT 1
A controversial ragworm farm which has received more than £1m of public money has gone into liquidation.
Dragon Feeds, which has its headquarters in Port Talbot, was set up to develop a sustainable alternative to fishmeal for the commercial sector.
Original plans were to build 270 ponds on Laugharne marshes in Carmarthenshire creating 70 jobs, but it is thought less than 10 people were employed.
Liquidators HR Harris and Partners confirmed the firm was in liquidation.
The Welsh Government said the Dragon Feeds received a £1.03m grant from the Welsh European Funding Office, and it would try and recover the money.
Dragon Feeds also had a SMART Cymru award of £191,960 for a R and D (research and development) project which was completed and formally closed and there will be no claw back."
Dragon Feeds, which has its headquarters in Port Talbot, was set up to develop a sustainable alternative to fishmeal for the commercial sector.
Original plans were to build 270 ponds on Laugharne marshes in Carmarthenshire creating 70 jobs, but it is thought less than 10 people were employed.
Liquidators HR Harris and Partners confirmed the firm was in liquidation.
The Welsh Government said the Dragon Feeds received a £1.03m grant from the Welsh European Funding Office, and it would try and recover the money.
Dragon Feeds also had a SMART Cymru award of £191,960 for a R and D (research and development) project which was completed and formally closed and there will be no claw back."