Philip Madras is the boss of a Bond Street, London, fashion-house, facing a take-over bid from a wealthy American. The American bid for the Madras family business sets the it in motion, and precipitates a crisis. Old Constantine Madras, founder of the business, has been shunned by the family for years because of his outrageous philandering. But the take-over negotiations need his agreement, and the rest of them must face the fact that Constantine will have to return.