Green had been charged with four counts of misdemeanor assault.
Fashion Concept GmbH claims to be in the market to buy two “top textile brands.”
It was a bruising year for Arcadia, which is now undergoing a major turnaround.
The charges relate to alleged incidents at Canyon Ranch in Pima County, Ariz., in 2016 and 2018.
Green is looking to do a deal with creditors that will likely see Topshop shut its 11 U.S. stand-alone stores and other units across the U.K. and Ireland.
The move comes amid Sir Philip Green’s ongoing restructuring of the retail group.
Under pressure, Brady left her role in the wake of newspaper allegations against Green.
Telegraph reporters have been investigating Green for alleged racism and sexual harassment in the workplace.
Green, who had obtained an injunction preventing the Telegraph from releasing an investigation accusing him of bullying and sexual harassment, said “it is pointless to continue with the litigation.”
Sir Philip Green’s net worth dipped to two billion pounds, while Harvey Weinstein and his now ex-wife Georgina Chapman fell off the Sunday Times of London 2018 Rich List.
Green sent a letter on Thursday, calling Field’s allegations during a radio interview last week “disgraceful.”
They will be replaced by David Hägglund who has been named sole creative director of both brands.
The appointment comes as Sir Philip Green shakes up the management ranks at Arcadia and its parent Taveta.