Penny Lancaster Shuts Down Ultimo Talk in Tense ‘Loose Women’ Interview: “I Like to Have My Peace”

Tensions ran high on Loose Women today as Penny Lancaster found herself in the hot seat during a segment about her former fallout with Ultimo lingerie founder Michelle Mone—one she clearly wasn’t eager to revisit.

The conversation, led by anchor Kaye Adams, came off the back of The Rise and Fall of Michelle Mone, a BBC documentary that aired the night before. The program rehashed Mone’s controversial business decisions—one of the most infamous being the abrupt firing of Lancaster in 2004 and replacing her with Rachel Hunter, who happened to be the ex-wife of Penny’s then-boyfriend, now husband, Rod Stewart.

History Repeats Itself on TV

Kaye approached the topic gently, first confirming with Penny if it was okay to talk about her past involvement with the brand. Penny agreed but gave only minimal answers, frequently noting the incident happened “over 20 years ago.”

“You were a huge hit and the company really grew on the back of that. Then, without telling you, they replaced you with Rachel Hunter—Rod’s ex-wife,” Kaye said, prompting audible gasps from the live audience.

Penny, visibly uncomfortable, replied coolly: “I wasn’t aware, I wasn’t informed of the documentary. It didn’t surprise me, because karma gets you I guess. But as far as any details I’m prepared to talk about, it would have to be the right time and place for that. I’ve put it behind me.”

Kaye continued to press, asking if the experience had been painful. Penny nodded, calling it a “very difficult time,” before adding that she had chosen not to engage publicly back then. “I wasn’t prepared to get into a fist fight in the media, so I left it to my husband.”

Rod Stewart Comes to Her Defense

Kaye then quoted a past statement from Rod Stewart, who had fiercely defended Penny when she was replaced.

“Michelle really needs to be put in her place… Penny doesn’t want to admit it, but she has been hurt by all of this. She’s been in tears… How do you think she feels to be told she’s being replaced by Rod’s ex-wife?”

Penny remained composed, saying she appreciated Rod’s support but preferred to handle things her own way.

“Well, when there’s bad energy and negativity and you hold on to that and run with it, it can eat away at you. So I like to just have my peace, rise above it, and be the best one,” she said, drawing applause from the audience.

Michelle Mone Fires Back

Later in the show, Kaye read a statement from Michelle Mone, who slammed the BBC documentary as “deeply misleading” and “one-sided.”

She defended her decision to drop Penny at the time, saying, “I did it for the team. I did it for the brand. I knew it would create lots of publicity. I didn’t create a crime—it was a business decision. Would I do it again? Yeah.”

Viewers Divided

The segment quickly sparked debate online. Many praised Penny’s dignity and restraint, with one viewer writing, “Well said, Penny Lancaster—rise above it.”

Others, however, questioned her appearance on the show if she wasn’t ready to open up. “What’s the point of having Penny Lancaster on today if she’s not going to talk about it?” one user asked.

Whether or not Penny ever tells the full story remains to be seen. But for now, she’s choosing calm over conflict—something many viewers clearly respect.