What We Know About Michael And Carole Middleton's Rumored Money Troubles
Years after Catherine, Princess of Wales' parents, Michael and Carole Middleton, experienced a devastating business collapse that resulted in them being victimized by a smear campaign, the financial woes of the Middleton family reportedly continue. The family party supply business took a major hit during the COVID-19 pandemic, and, unfortunately, it never bounced back. By 2023, Party Pieces filed for bankruptcy under a tremendous debt of £2.6 million.
London-based firm Interpath Advisory was brought on board to handle the dissolution of Michael and Carole Middleton's party supply business. But this, too, seems to be a bigger bill than the Middletons can cover. According to a recent report from The Times, Party Pieces' assets didn't cover the firm's advising fees of £268,928. At the time of the initial report, Interpath Advisory had reportedly only received £51,437 — roughly 19% of the total cost.
Carole Middleton founded Party Pieces in 1987 after having difficulty finding birthday party decor for a then-5-year-old Kate Middleton. And while many royal fans were unhappy with Kate's mom as her business failed to honor orders, sources close to the princess' mother said she did not take her business' faults lightly. "Carole is understandably upset and deeply disappointed in this situation," one anonymous source told the Daily Mail last summer. Nevertheless, Carole has reportedly made a point not to involve her daughter, Kate, as she focuses on her cancer recovery.
Carole Middleton is reportedly trying hard to protect her daughter, Kate, from the Party Pieces debacle
Party Pieces was not just a family business to Kate Middleton — at one point, it was her employer. The future Princess of Wales worked as a Party Pieces manager in the late 2000s before stepping down from her duties ahead of her wedding to William, Prince of Wales. Despite Kate's connection to the business, sources claim that Carole Middleton is doing everything in her power to separate her financial drama from Kate, who announced she is undergoing chemotherapy in a heartbreaking cancer announcement in March.
"Catherine and her parents are very close, and they always check in with each other. But talk about the business is off limits as she needs to focus on her health," a source close to the family told US Weekly. Royal commentator Afua Hagan also weighed in, telling the outlet: "It's a stressful time at the moment, and she will be pulling out all the stops to shield her daughter from this. Party Pieces has collapsed, and it's been devastating for the family. But Carole will be most concerned with Kate's well-being right now."
The Times' report stated that Interpath Advisory expects to receive additional payment but does not anticipate being paid in full, suggesting this debt will continue to follow the Middletons for some time longer. US Weekly's source said Carole and Michael have no plans to ask their children (royalty or not) for financial assistance.