Three hundred workers at a Welsh oil refinery were braced yesterday for Christmas on the dole after a notorious "asset stripper" wrecked a buyout at the last moment.

A four-year government-backed bid to sell the Murco-run Milford Haven site was dashed when the Swiss-based Klesch Group pulled out - five days after the final deadline.

In a message to staff, owner Murphy immediately put them on notice that the "disappointing" development will "result in a significant number of redundancies."