The family business of Princess Kate’s parents Carole and Michael Middleton was extremely successful – until the corona pandemic paralyzed the business. The Middletons are apparently still struggling with high debts.
Last spring the party was finally over for the Middletons. Carole and Michael Middleton, Princess Kate’s parents, had to sell their family business Party Pieces. Entrepreneur James Sinclair, who owns the company “Sinclair’s Company Teddy Tastic Bear Co Ltd”, quickly became known as the buyer. Middleton’s online store had everything a good party needs: from garlands to balloons to themed worlds. And business was going well until the corona pandemic stopped allowing parties in March 2020.
Princess Kate: Her parents have money problems
As the British newspaper “The Times” reports, the Middletons are said to be having great difficulty repaying their debts. They are said to still owe the insolvency company that handled the business around 260,000 pounds (around 300,000 euros) – which they cannot raise. Sounds like a lot of money, but the amount is an even larger sum. The Middletons owed £2.6 million to creditors. According to The Times, Party Pieces was sold to Sinclair last year for £180,000. The insolvency administrator “Interpath Advisory” (IA) simply did not have enough financial resources to satisfy the creditors. Also because the insolvency proceedings took so long, the costs for IA increased.
Carole Middleton, a former flight attendant, and her husband Michael (formerly an executive at British Airways) founded the company in 1987, seven years after their wedding. Two years later, Michael Middleton joined full-time after leaving his job at British Airways. And they were both successful. Thanks to their income from Party Pieces, they were able to afford private schools for their three children.
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In 2019, Carole Middleton, who is currently taking more care of her daughter Kate and her grandchildren George, Charlotte and Louis, had already withdrawn from the ongoing business. It was said at the time that she wanted to concentrate more on family matters and gardening. In 2023 she got involved again when it came to selling party pieces. The Middletons are probably doubly worried at the moment: on the one hand, about their sick daughter, and on the other hand, about their liquidity.
Sources:/
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I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
