Kate Middleton’s Parents Face Financial Debt: Why Did Family Business Party Pieces Fail?

Why Did Princess Kate Middleton’s Family Business F
Princess Kate Middleton’s family is at the center of some financial troubles after her parents, Carole and Michael Middleton, were forced to say goodbye to the family business they had operated for several years.

Now, they’re facing large amounts of debt. What led to the Middleton family’s money problems?

Why Did Carole and Michael Middleton Have to Sell Their Family Business?
In May 2023, Carole and Michael were forced to sell their business, The Party Pieces Company, which sold party supplies. The Middletons founded the business in 1987, but after experiencing cash flow problems, the company “collapsed in administration,”

Princess Kate Middleton’s family is at the center of some financial troubles after her parents, Carole and Michael Middleton, were forced to say goodbye to the family business they had operated for several years. Now, they’re facing large amounts of debt. What led to the Middleton family’s money problems?

Why Did Carole and Michael Middleton Have to Sell Their Family Business?
In May 2023, Carole and Michael were forced to sell their business, The Party Pieces Company, which sold party supplies. The Middletons founded the business in 1987, but after experiencing cash flow problems, the company “collapsed in administration,” per The Guardian.

Party Pieces was purchased by fellow businessman James Sinclair, who also owns Teddy Tastic Bear Co Ltd. When the Middleton’s business went into administration, they owed creditors approximately £2.6 million. In April 2024, it was revealed that the family can’t produce the “£260,000 (more than $329,000) insolvency firm costs,” per The Times.

Carole Middleton Doesn’t Want Kate to Worry About the Family Debt
Due to Kate’s recent cancer diagnosis, Carole reportedly doesn’t want to add any extra stress in her daughter’s life so she’s been attempting to shield her from news about her parents’ financial struggles.

“Carole is desperately trying to keep Catherine fully focused on her recovery,” a source told Us Weekly in an article published on April 4, 2024. “It’s a very worrying time for the family but they are not looking for any assistance from their children and don’t want them to worry. Catherine and her parents are very close and they always check in with each other, but talk about the business is off limits as she needs to focus on her health.”