The Parents Of Cancer Stricken Princess Kate Middleton Face The Collapse Of Their Business And Are Struggling To Pay Their Bills ($2.3 Million)

The Parents Of Cancer Stricken Princess Kate Middleton Face The Collapse Of Their Business And Are Struggling To Pay Their Bills ($2.3 Million)

April 17. 2024

Carole Middleton and Kate Middleton in happier times

Last month the Princess of Wales, Kate Middleton, announced to the world that she has been diagnosed with cancer. This occurred days after her father-in-law, King Charles, announced he has been diagnosed with cancer. It has been a very difficult time for the royal family.

Carole Middleton and Kate Middleton after Kate's chemotherapy began

Now comes word that Middleton's parents are in serious financial straits. The family's business, Party Pieces, run by Carole and Michael Middleton, has collapsed and filed for bankruptcy. Workers have not been paid nor have other creditors. Their outstanding debts total over $3.2 million.

Kate Middleton speaking about her cancer diagnosis

For over 20-years the business provided well for the family, enabling them to live an upper-middle class lifestyle. However, when the COVID-19 pandemic hit, sales plunged. So many business were damaged or destroyed by the pandemic.

Prince William, Princess Kate and their children Charlotte, George and Louis

As the creditors are workers and other British businesses, I think Middleton's husband, Prince William, should cover the debt. It would be money that goes back into the British economy in paying workers for work already rendered, and businesses for services and materials provided. The British people have been very good to the royal family. It would be a good gesture to the workers and creditors if Prince William paid the debt.

STORY SOURCE

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

Wed, April 3, 2024 at 11:43 AM EDT - 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.

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....

https://finance.yahoo.com