MICHELLE Mone has indicated she is taking legal action over claims one of her businesses is in crisis after it was reported most of her staff were sacked or walked out.

A spokesman for the Tory peer, who has been appointed start-up tsar for the UK Government, said a report in yesterday’s Daily Mail was “100 per cent false” and that she had appointed leading London legal firm Harbottle and Lewis.

It was claimed that five members of staff at her company, MGM Media Limited, had recently left their posts, leaving no-one left except Lady Mone and her manager.

At least one member of staff has left recently, according to business networking website LinkedIn.

The profile of Mark Hassan-Ali, who formerly worked in Lady Mone’s private office and earlier this year admitted altering his boss’s Wikipedia page to make it more flattering, states that he left the firm this month and is now “actively seeking a new challenge for 2016”.

The report stated that the company, set up to manage Lady Mone’s speaking engagements and mentoring business, was experiencing cashflow problems and that she had recently moved out of her London apartment near Tower Bridge to a more modest residence in Mayfair, apparently to cut costs.

A spokeswoman for the Glasgow-born peer said last night: “The story in today’s Daily Mail was 100 per cent false and Lady Mone has appointed top London firm Harbottle and Lewis.

“2015 was Lady Mone’s biggest year in business and financially with her world tour and already 2016 business is bigger than 2015.”