Being near or far from the royal family of England doesn’t stop you from worrying financially… In fact, the parents of Kate Middleton, wife of Prince William and now Princess of Wales, have reportedly recently had to sell their party pieces business by The Chron on June 7, 2023.
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While her daughter Kate Middleton found a good partner by marrying Prince William of Wales, the grandparents of the young heirs, George, Charlotte and Louis, have been suffering from major financial problems since the Corona crisis. In fact, Carole and Michael Middleton did not capitalize on the popularity of their royal in-laws to help Party Pieces, their online party supplies business, deal with the Covid crisis. Since the pandemic, Kate Middleton’s parents have been heavily in debt and forced to sell their company, which they founded in 1987.
Covid, but also Brexit and inflation: the reasons why Kate Middleton’s parents, Carole and Michael Middleton, went into debt
However, they were the kings of the balloons… Carole and Michael Middleton recently had to reluctantly give in to Party Pieces. The company was placed under court oversight before the couple finally reached a purchase agreement with British millionaire James Sinclair. Middleton’s debt-ridden spouses (which would total almost £2.7million, or €3.17million) made headlines in the press as their creditors felt cheated by such an outcome. However, significant investments were made in October 2022 to save the furniture and open the company to new European, American and even Middle Eastern markets. According to an article published in the Chron on June 7, 2023, the company’s bankruptcy is indeed a consequence of the pandemic, but Party Pieces’ financial health would also have been badly hit by Brexit and very high inflation. strong in the UK.
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Kate Middleton’s parents in forced retirement
However, the Princess of Wales – who was unable to use her title to bai out her parents’ financial woes – can thank them for starting their company Party Pieces 36 years ago. It is thanks to these entrepreneurial parents-turned-multimillionaires with their party favours, that young Kate was able to integrate extremely prestigious schools like Marlborough College (after all, 70,000 euros a year) … and where she met her future husband William, son of Charles and Diana. Today, at the age of 68 and 74, Carole and Michael Middleton are in forced retirement. So they will have plenty of time to enjoy their royal grandchildren.