On Friday, the BBC said: "Shortly in advance of a hearing (due 16 February), Mr Wallace discontinued his claim. He is not receiving any payment in costs or damages from either BBC or BBC Studios."
Floyd's son Dan bought Twig's in 1986 to keep it in family hands. Today, it is run by Ben, his wife Annelies, and Ben's brothers Jake and Luke. It employs 20 people, and has annual revenues of around $6.5m (£4.8m).
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Image caption, Leigh-Anne Pinnock told BBC Bitesize about fake news she had read about herself