Comment i am coming (Score -1, Offtopic) 144
Michelle Mone, the founder of the Ultimo brand, said: "We've given this a lot of thought, but there's a point where a business must stick to its principles and as a brand that targets young women, we feel it is impossible for Peaches to continue to work with us as the face of Miss Ultimo lingerie."
The Miss Ultimo range is geared towards women aged 18 to 25.
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Geldof is thought to be currently in Los Angeles.
A lawyer for the model and socialite has denied the reports of drug-taking, saying Geldof was drunk.
Jonathan Coad said in a statement: "The allegations that our client was carrying and injecting heroin are denied, our client having consumed alcohol with the other individual leading to the "highs" described and portrayed in the photographs."
Storm, the model agency, said it had no plans to drop Geldof from its books.
Geldof, the daughter of Bob Geldof, divorced rock musician Max Drummey after a six-month marriage last year.
They married in secret in a drive-in ceremony in Las Vegas after a 10-day romance.