According to recent reports, the parents of Kate Middleton, Carole, and Michael, faced financial challenges when their company Party Pieces collapsed.
The business, founded in 1987 and known for selling party supplies, entered administration with debts totalling 3 million dollars. This turn of events left the Middleton family unable to settle a $326,838 bill owed to an insolvency firm, as per sources.
Initially enjoying success, Party Pieces contributed to funding Kate Middleton and her siblings’ education. However, in recent years, the company’s prosperity waned, leading to its insolvency. Interpath Advisory was brought in to handle the insolvency process, but the fees charged by the firm, totaling $64,659, remained unpaid due to financial constraints.
The business’s decline can be attributed to various factors, including economic challenges exacerbated by the COVID-19 pandemic. Despite efforts to find a buyer and continue operations, Party Pieces ultimately succumbed to financial pressures. The business was eventually sold to James Sinclair through a pre-pack administration deal, signaling the end of an era for the Middleton family’s entrepreneurial venture.
