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Kate Middleton‘s parents’ business Party Pieces is nose-deep in debt, but the family matriarch, Carole Middleton wants her daughter left out of it. The Princess has a lot on her plate already, grappling with her ongoing battle with cancer, and the implications of King Charles’ cancer diagnosis, while being a mom to her three kids.
Kate Middleton’s Family Plunged in Huge Business Debt
The Times UK recently reported that the Middleton family business, Party Pieces has amassed a debt of up to $300,000. The business is now on the verge of collapse after failing to come up with the £260,000 ($329,000) insolvency firm costs owed to The City, a firm handling Party Pieces Company’s owed debt.
The company went into administration last June after owing creditors about $3.16 million. However, the company’s assets couldn’t cover the cost of The City advisors’ time, plunging them further into debt.
However, Kate Middleton’s mom is unwilling to let her daughter become stressed by the debt amid her health struggles. So far, she’s attempted to shield the princess from it, to enable her to focus on her recovery. A source divulged to US Weekly,
“Carole is desperately trying to keep Catherine fully focused on her recovery.”
The source claimed that despite the closeness that exists within the Middleton family, Carole and her husband, Michael Middleton refuse to seek assistance from their children Kate, Pippa and James Middleton to sort out the debt. Per the source,
“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. 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.”
What the Royals Think of the Middleton Business Debt
Royal expert Christopher Anderson has weighed in on the Middleton family debt and the stand of the royals. In an interview with US Weekly, Christopher explained that contrary to what most might think, the news of Kate Middleton’s family business debt wasn’t a slap on the royal family, as they had bigger things on their plates. He divulged,
“No one in the royal family is embarrassed by the failure of Party Pieces. Between the king’s cancer battle and Kate’s cancer battle, the last thing they have on their minds is how much the Middletons owe their creditors.”
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Kate Middleton and Prince William Faced ‘Tremendous Anxiety’ Due To King Charles’ Cancer DiagnosisGoing further, the royal expert clarified that the near collapse of Kate Middleton’s parents’ business over unpaid debt did not mean the family was broke. He added,
“Their business went belly-up because of things entirely out of their control, but that doesn’t mean they haven’t got substantial personal assets.”
Christopher blamed the business’ fate on the coronavirus pandemic, which significantly crippled a number of businesses. Royal commentator Afua Hagan also touched on the subject earlier this week, noting that it is a stressful time for the Middletons. Regardless, the focus remains on “pulling all the stops” to protect Kate from it all. With the events splashed across the media though, it’s sure going to be one Herculean task.