Management at London's luxury Harrods department store say they're "utterly appalled" by allegations former owner Mohamed Al Fayed sexually assaulted more than 20 employees.

The billionaire, who died last year aged 94, owned the Brompton Road icon between 1985 and 2010.

Al Fayed's wealth, eccentricity and celebrity connections made him a household name in the UK, as did his links to Princess Diana.

His son Dodi was romantically involved with the royal, but both were killed in a 1997 Paris car crash.

On Thursday, the BBC published allegations from more than 20 female ex-Harrods staff members, who claimed Al Fayed had sexually assaulted them.

Five women accused him of rape.

The women claimed Harrods management was aware of the allegations at the time, but helped cover them up.

In a statement, Harrods management said: "We are utterly appalled by the allegations of abuse perpetrated by Mohamed Al Fayed."

"These were the actions of an individual who was intent on abusing his power wherever he operated and we condemn them in the strongest terms. We also acknowledge that during this time as a business we failed our employees who were his victims and for this we sincerely apologise."

The store's management said it had last year begun settling civil claims with some of the women Al Fayed preyed upon, and encouraged others to contact them.

"While we cannot undo the past, we have been determined to do the right thing as an organisation, driven by the values we hold today, while ensuring that such behaviour can never be repeated in the future," their statement read.

One woman quoted in the BBC report described Al Fayed as a "monster" and "sexual predator".

It's not the first time the Egyptian-born businessman, who also once owned the Ritz hotel in Paris and Fulham Football Club, has had allegations like this made against him.

He was the subject of sexual harassment and assault allegations from multiple women while he was alive.

In 2008, he was interviewed under caution by London's Metropolitan Police after he was accused of sexually assaulting a 15-year-old girl.

In a statement, police said they would "assess any new information or evidence that came to light".