The Morrell family stand to make a cool £35m from the sale of their brewery and pubs.

As 77 workers were contemplating losing their jobs, it has emerged that 15 family members will be sharing out the millions. But 76-year-old Margie Eld insisted that she will be a reluctant multi-millionairess.

Mrs Eld, who stands to collect at least £3.5m, said: "I will not get any pleasure from this money. Everyone knows that I would have much preferred to keep the business going."

More than 98 per cent of the company shares are still held by descendants of James Morrell. The 132 pubs are valued at between £100,000 and £200,000 with the city centre brewery expected to fetch at least £7m from developers.

Oxford University Colleges are already showing an interest for student accommodation.

The Morrells' warehouse should bring in another £1m.

Mrs Eld had tried to persuade others from selling. "We had put together a business plan, which we believe would have saved the brewery and a significant number of jobs," she said.

But a majority of other family shareholders decided the company was under-performing and decided to go for a sale of assets.

Tenants' representatives given the news of the sale reacted angrily. Anne Power, of the George in Botley, said: "Colonel Morrell would turn in his grave. It's the end of 200 years of brewing. The meeting was a sham."

CAMRA's Mike Benner said: "It appears that the directors have forgotten, not only about their workforce, but about the thousands of devoted consumers who have stood by Morrells.

"It's time to put something back by selling to an organisation with credible plans to keep the brewery open.

Workers' gloom: See Features

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