Beyoncé has cut her ties with Sir Philip Green, the Topshop tycoon who is battling claims of harassment and bullying.

The singer’s company Parkwood has bought out the British tycoon’s 50% share in Ivy Park, the clothing label she launched with Green’s Arcadia Group in 2016.

Ivy Park said in a statement: “After discussions of almost a year, Parkwood has acquired 100% of the Ivy Park brand. Topshop/Arcadia will fulfil the existing orders.” A spokesperson for Arcadia Group confirmed the transaction.

Beyoncé and Green first announced in 2014 that they were teaming up to design an athletic streetwear brand and the first Ivy Park range went on sale at Topshop two years later. The first range of tops, sports bras and leggings was modelled by Beyoncé herself.

Claims that Green acted inappropriately emerged last month when the Labour peer, Lord Hain, revealed that the businessman had obtained an interim injunction against the Daily Telegraph after the newspaper attempted to publish allegations of misconduct made by five employees. The billionaire has strongly denied the allegations of sexual harassment and racist abuse, saying any remarks had been “banter”. He has insisted that “there was never any intent to be offensive”.

Current and former employees of his Arcadia Group have alleged a climate of fear, bullying and harassment at the company. The Guardian reported that several employees were given enormous seven-figure secret payouts to settle their claims.

Jane Shepherdson, the former brand director at Topshop, has described him as a “bully”. She alleged that his behaviour in the workplace was “worse than most” and that bullying still took place in the company. A spokesperson for Green and Arcadia declined to comment on Shepherdson’s allegations at the time.