FARMERS have little prospect of recovering the £660,000 owed to them and other creditors following the collapse of a Pembrokeshire-based meat company.

Haverfordwest-based Emcol (2008) Ltd, jointly owned by Emrys Davies, and Colin and Helen Lewis, has been wound up voluntarily after a catalogue of financial problems.

Dozens of farmers who sold livestock to the business are owed money with some of the biggest losers left more than £100,000 out of pocket.

Among the dozens of creditors is D.L. Evans, of Llangloffan Cross, Castlemorris, who is owed £107,445 while there is £26,816 outstanding to W.R.L. Fletcher, of Manian Farm, St Dogmaels.

Other losers include Raymond Davies, Parc Gwyn, Llandeloy (£19,795), J.A. and R.M. Sollis, Ffynnonddofn, Nevern (£14,709) and R., M.E. and B.D. Howells, Nantycerrig, Cynwyl Elfed (£15,600).

It is not just farmers who are out of pocket.

Among businesses owed money are Haverfordwest-based accountants, Ashmole and Co, who have not been paid £18,358.

At a meeting of creditors in Swansea, it was reported that Emcol’s financial demise began when Irish firm, Darcy Meats, failed to pay £466,798 owed to the company.

Although court action has been taken against the Irish company’s owner, Mr Donal D’Arcy, that debt has yet to bebeen recovered.

According to Emrys Davies, another factor in Emcol’s failure was the loss of what was described as a “very profitable’’ Defra contract for TB cattle. Mr Davies also admitted the company had been overstaffed for a long period of time.

Many farmers had also ceased trading with the company because they were not paid on time.

Liquidator Gary Stones, of Stones and Co. in Swansea, said unsecured creditors were unlikely to recover any of their money.

“On the basis of the information provided to my firm, there is little prospect of any dividend payment being made to unsecured creditors,’’ he said.

And other creditors are only likely to recoup some of their money if the debt owed by Darcy Meats is recovered.

Mr Stones said every effort would be made to recover this money, although he admitted funding the action was a “serious issue’’.

“The matter may necessitate the bankruptcy of Mr Donal D’Arcy in the Republic of Ireland to crystallise the position once and for all,’’ he said Mr Stones.