Former staff have told the that Fayed would regularly tour the sales floors looking for young female assistants to promote to working in his office.
Mr Armstrong said Harrods have “full culpability for the abuse these women suffered”.
US lawyer Gloria Allred, who has acted in several high-profile sexual abuse cases, said: “Underneath Harrods’ glitz and glamour was a toxic, unsafe and abusive environment.”
Victims still suffer nightmares, depression and anxiety, reporters were told.
In response to the investigation, Harrods acknowledged that during the time it was owned by Fayed, “as a business we failed our employees who were his victims and for this we sincerely apologise”.
“The Harrods of today is a very different organisation to the one owned and controlled by Al Fayed between 1985 and 2010, it is one that seeks to put the welfare of our employees at the heart of everything we do,” they added.
The department store’s new owners have a compensation scheme for ex-employees who say they were attacked by Fayed, which is separate to the legal action being taken by some accusers.
Harrods has already reached financial settlements with the majority of people who have approached them since 2023, and has had new inquiries this week.
Harrods is accepting vicarious liability for the actions of Fayed, and there are no non-disclosure agreements attached to the settlements.
It said: “Since new information came to light in 2023 about historic allegations of sexual abuse by Al Fayed, it has been our priority to settle claims in the quickest way possible, avoiding lengthy legal proceedings for the women involved.”
It said that while it could not undo the past it wanted to ensure such behaviour never happened again.
However, during the news conference, Mr Armstrong said it was “simply not true” for Harrods to say that it was unaware of the allegations until 2023.
In 2008, the Met investigated Fayed after a 15-year-old girl said he sexually assaulted her in the Harrods boardroom.
The force said it handed a file of evidence to the CPS – a step which has to be taken before charges can be issued – but prosecutors decided no further action should be taken.
Three other investigations into claims made by three other women – in 2018, 2021 and 2023 – got to an advanced enough stage that the CPS was called in to advise detectives, but in those instances a full file of evidence was never passed to prosecutors.
Speaking to News after the conference, Ms Allred said it is “overdue” for Harrods to “step up”.
“Now we want deeds, not just words,” she said.
At the press conference, the lawyers were also asked if they were aware of any allegations against Fayed in relation to his other business interests at Fulham FC and the Ritz hotel in Paris.
Barrister Maria Mulla said they are representing women who were employed at the Ritz but not anyone related to Fulham.
Fulham FC said in a statement: “We are deeply troubled and concerned to learn of the disturbing reports following yesterday’s documentary. We have sincere empathy for the women who have shared their experiences.
“We are in the process of establishing whether anyone at the club is, or has been, affected.”
The has asked the Ritz Paris hotel – which Fayed bought in 1979 – if it has ever paid any compensation to employees or former employees over sexual assault or rape allegations.
The hotel did not answer whether or not it had paid any compensation, but issued a statement which says it “strongly condemns any form of behaviour that does not align with the values of the establishment”.
The legal team representing some accusers said it had not ruled out launching proceedings against Fayed’s estate.
Mr Armstrong said the team was in the process of taking on “many more” clients than the 37 they are already representing.
Since the investigation was published, more women have come forward to accuse Fayed of assaulting them.
Speaking after the press conference, Mr Armstrong said around 100 women have since contacted his team.
