The men's club that hosted a charity dinner where hostesses were allegedly groped and harassed has shut down

Financial Times

A frame from inside the Presidents Club Dinner.

The President's Club, which last week hosted an exclusive all-male dinner and charity auction where hostesses were allegedly groped and harassed, has shut down following a damning Financial Times report into its activities.

A spokesman for the club told Business Insider: "The trustees have decided that the Presidents Club will not host any further fundraising events. Remaining funds will be distributed in an efficient manner to children's charities and it will then be closed."

Bloomberg reporter Joe Mayes first reported the event's closure.

More follows.