Princess of Wales Kate Middleton‘s family has often been the subject of speculation regarding their financial status. Despite not being part of the Royal Family, her parents, Carole and Michael Middleton, have built a successful business empire over the years.
However, rumors have always persisted about their alleged debts. Carole and Michael Middleton established their party supplies company, Party Pieces, in 1987. The two initially started operating from their home in Berkshire, England.
Over the years, the business expanded significantly, becoming a prominent player in the party supplies market. However, all is not going well for the business as a source told US Weekly about their company being in debt.
According to the source, Carole struggled to pay the firm’s insolvency costs. The company has been in administration since June, with debts totaling over £2,500,000, which is equivalent to $3,16,000. “Party Pieces has collapsed and it’s been devastating for the family,” said the source.
Related: ‘The Crown’: Is Kate Middleton’s Mother The Mastermind Behind Her Relationship With Prince William?
Does Kate Middleton Help Her Mother Carole Middleton Financially?
According to the source, despite the debt being very devastating to the family, Carole will not ask daughter Kate for help. “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.”
“It’s a very worrying time for the family but they are not looking for any assistance from their children and don’t want them to worry,” the source added. Additionally, with Kate’s recent cancer announcement and all her troubles it makes sense that her mother doesn’t want to put any more pressure on her.
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