Arcadia boss Sir Philip Green has abandoned a legal battle with the Daily Telegraph following allegations of harassment.
In October 2018, the Telegraph announced that a leading businessman had been granted an injunction to prevent it revealing his alleged sexual harassment and racist abuse of employees.
However, Lord Hain used parliamentary privilege, when speaking in the House of Lords, to name Green.
Hain said: “I feel it’s my duty under parliamentary privilege to name Philip Green as the individual in question given that the media have been subject to an injunction preventing publication of the full details of this story, which is clearly in the public interest.”
In a statement, the retail boss said: “After careful reflection, Arcadia and Sir Philip have reluctantly concluded that it is pointless to continue with the litigation which has already been undermined by the deliberate and irresponsible actions of Lord Peter Hain and risks causing further distress to the Arcadia’s employees.”
The statement added that the Telegraph had caused “untold disruption” to the Arcadia business.