The parents of Catherine Princess of Wales are reportedly facing bankruptcy after the collapse of their company, Party Pieces, which comes weeks after their daughter announced her cancer diagnosis.
After the company’s failure, the couple hired Interpath Advisory to manage the bankruptcy.
They owe the company $326,000 but have only paid around $64,000.
The company confirmed it would be receiving only part of the payment owed by the Middletons.
Party Pieces, founded in 1987, is a party supply company that began to suffer and collapse into insolvency during the COVID-19 pandemic.
As Yahoo reported:
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.'”
James Sinclair, who purchased 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 news comes following revelations of their daughter’s cancer diagnosis, and also the news that King Charles III also has cancer.
Middleton announced last week she will be undergoing preventative chemotherapy following her cancer diagnosis.
However, her video message only raised more concerns about her well-being, as she was seen strolling with William through a farm.
READ: Kate Middleton’s Latest Appearance Has One Problem – No One Took a Picture
