Beyoncé buys out Sir Philip Green from Ivy Park fashion line

Beyoncé is cutting her business ties with Sir Philip Green who she partnered up with to launch her sportswear line Ivy Park.

The move comes after the British billionaire was accused of sexual harassment and racial abuse.

The singer's company, Parkwood Entertainment, said in a statement on Thursday it has acquired 100 percent of the 'athleisure' clothing line.

Ivy Park includes hoodies, leggings and sports bras, and went on sale in 2016 at Green's retail chain Topshop.

Beyoncé and Green collaborated in 2014 to develop the brand and the singer features in its promotional campaigns.

Sir Philip owns Topshop and Topman. Credit: PA

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."

After an eight-month investigation, Britain's Daily Telegraph published a story last month called "The British #MeToo scandal which cannot be revealed."

The newspaper said a court injunction prevented it from naming the businessman or reporting the details of his alleged behaviour.

However, Lord Hain told the House of Lords he felt it was "my duty under Parliamentary privilege" to name Sir Philip as the matter was "clearly in the public interest".

Sir Philip said he "categorically and wholly" denies allegations of "unlawful sexual or racist behaviour".

Beyoncé isn't the first celebrity to cut ties with Green since Lord Hain's disclosure, Simon Cowell bought out Green's stake in Syco Entertainment and told The Sun he was putting "principles before profits".