Following the collapse of her family business, Carole Middleton, the mother of the Princess of Wales, has encountered another setback as the firm overseeing the insolvency process admitted it would be unable to cover all fees.
Last year, Party Pieces, owned by Carole and Michael Middleton, went into administration, leaving creditors £2.6 million in debt. Interpath Advisory was appointed to manage the company's collapse but revealed that £268,928 in time costs incurred by advisers could not be fully covered by Party Pieces' assets.
Reports from The Times suggest that Interpath's team faced challenges in recovering their total fees due to the additional hours required to meet statutory requirements during Party Pieces' insolvency proceedings.
Established in 1987 by Carole and Michael, Party Pieces initially specialized in children's parties before expanding to include decorations and gifts. However, like many small businesses, Party Pieces experienced a decline in sales during the COVID-19 pandemic, leading to its administration.
The company was eventually sold to entrepreneur James Sinclair for £180,000. Carole, 69, stepped back from the day-to-day operations in 2019, assuming a role as brand ambassador while a new management team took over. However, she returned to assist in running the company during its efforts to secure a rescue deal in spring 2023.
Carole and Michael reside in Bucklebury, near the residence of the Prince and Princess of Wales at Adelaide Cottage. They are known to be involved grandparents to Prince George, Princess Charlotte, and Prince Louis, as well as to their other grandchildren through their daughter Pippa and their son James.
Meanwhile, amid Carole's financial concerns, her daughter, the Princess of Wales, is undergoing cancer treatment and spending time with her family.
