Setback for Carole Middleton as Family Business Closure Leads to Financial Shortfalls
Carole Middleton faces a new challenge as the company she founded encounters financial difficulties in the wake of its closure. The appointed insolvency practitioners have confirmed their inability to cover all their charges due to insufficient assets from the business’s liquidation.
Party Pieces, the venture Carole co-owned with her husband Michael Middleton, entered administration last year with debts amounting to £2.6 million. Interpath Advisory, tasked with overseeing the liquidation, found that the company’s assets fell short of covering £268,928 in consultancy fees, by “The News International“.
Despite efforts by Interpath’s team, the financial recovery from Party Pieces did not meet expectations, with the insolvency process requiring extensive work to fulfill legal obligations, as reported by The Times.
Founded in 1987 by Carole and Michael, Party Pieces initially focused on organizing children’s parties before expanding its offerings to include party supplies and gifts. However, like many small enterprises, it struggled with declining sales, exacerbated by the COVID-19 pandemic, eventually leading to the business’s downfall.
The Middletons’ company was acquired by entrepreneur James Sinclair for £180,000. In 2019, Carole shifted her focus from daily operations to become a brand ambassador, although she remained a director and stepped in to assist in seeking a rescue deal in 2023.
Carole and Michael reside in Bucklebury, close to the Prince and Princess of Wales. They are actively involved in the lives of their grandchildren, including Prince George, Princess Charlotte, and Prince Louis, as well as Pippa Middleton’s children, Arthur, Grace, and Rose Matthews, and James Middleton’s son, Inigo, with Alizee Thevenet.