A Haverfordwest-based safety and security company has gone into administration with the loss of five jobs.

On April 29th, notice was given that the electronic security system company, Powersafe Communications Limited, based at Western Tangiers, Fishguard Road, had gone into administration and a meeting of creditors was due to be held in Gloucester yesterday (Thursday, May 9th).

Sister company Powersafe Limited - which deals with bigger projects involving the ports and refineries as opposed to smaller-scale contracting - will continue to operate from the company's premises as normal.

Owner Tony Edwards said: "Powersafe Communications Limited dealt with contracting, which was down to what contracts are on at the moment and that was not a lot. We had to lay off some of our employees because we could not keep them on. "It's not a nice sort of outcome, but we're still here." Mr Edwards said a number of factors had weakened the company, including a project being pulled and the length of time it took to sell one of the company's buildings at Western Tangiers.

"Things were hitting us at all angles," he said. "It made me realise you can't go on - you have to cut your losses and do the right thing."

According to Mr Edwards, some of the money, which would normally have come into the company's hands last year, was diverted to the Olympics, and while money had been made elsewhere off the back of London 2012, Pembrokeshire had suffered.

"People on the highstreet aren't spending at all," he added. "We were paying staff to go out in the vans for quotes, but people were looking on the internet and going for a cheaper option.

"We are winding up Powersafe Communications Limited this week, then after that it's business as usual, only smaller."

The administration process in being handled by Bridgestones.