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.
More from SheKnows
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.
Best of SheKnows
Sign up for SheKnows’ Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Source Agencies
