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Kate Middleton’s Parents Are Reportedly Struggling To Pay Bills After Their Business Collapsed

In World
April 03, 2024

Last summer, Carole and Michael Middleton’s bankruptcy issues with their Party Pieces company were exposed. Their creditors were owed over $3.2 million that they were not able to recoup the money from Kate Middleton’s parents, and the uncomfortable headlines plagued the royal family. Now, a new twist in the situation adds another awkward layer to the Middleton’s former business and puts the spotlight squarely on the couple’s finances.

Carole and Michael had hired Interpath Advisory to help them navigate the bankruptcy, but it seems even they are struggling to get paid by the palace-adjacent couple. According to the Mirror, they have a tab with the firm for over $326,000 and have only paid around $64,000 of their bill. The company has revealed that they will not be receiving their full payment from Middletons, per The Times.

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BERKSHIRE, UNITED KINGDOM - NOVEMBER 16: Parents of Kate Middleton, Michael and Carole Middleton, make a statement following the engagement of their daughter to Prince William, outside their home near the village of Bucklebury on November 16, 2010 in Berkshire, United Kingdom. Prince William, who is second in line to the throne following his father Prince Charles, has been in a relationship with Ms Middleton for the past 8 years. They were engaged in October whilst on a private holiday in Kenya and are due to marry in London in the spring or summer of 2011. (Photo by Stefan Rousseau - WPA Pool/Getty Images)

BERKSHIRE, UNITED KINGDOM – NOVEMBER 16: Parents of Kate Middleton, Michael and Carole Middleton, outside their home near the village of Bucklebury on November 16, 2010 in Berkshire, United Kingdom.

The Party Pieces business was founded in 1987 and Carole and Michael built the successful venture from the ground up. When Kate married into the royal family, Carole did not shy away from tying her party-supply company in with royal events, including King Charles III’s coronation. However, the pandemic proved to be a difficult global event to overcome when social distancing became the norm. That left her suppliers in the lurch — they weren’t getting paid.

“We started chasing; they were making excuses,” a spokesman for the unpaid clients told the Daily Mail in 2023. “She apologized. She said that one of the managers was failing to deal with it, so she said, ‘I’m personally going to deal with it. I’ll rectify everything. I won’t be able to pay it in one lump: I’ll pay it on a weekly basis.’” It eventually reached a point where Carole stopped answering her phone.

James Sinclair, who bought the Party Pieces company in bankruptcy without acquiring its debts, defended Carole to The Telegraph. “I don’t think it’s Carole’s fault,” he said. “She sold half the business at 65 years old to an investment firm and in my view, they ruined it.” It was a quick-fire sale of their declining investment, so Carole and Michael “didn’t get any of the administration proceeds,” per Sinclair. “She’s not got a big fat cheque for selling her business.” The Middletons may not be as rich as people believe and they may be struggling in a downturned economy like many working-class citizens.

Before you go, click here to find out which tell-all books expose major royal family secrets.

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