“What hurts me the most is that I trusted her, as the mother-in-law of the future king, and she betrayed me”: The failed family business of Kate Middleton’s parents provoked criticism from associates

Kate Middleton’s parents, Carol and Michael Middleton, are embroiled in controversy over the way they run their business. Party Pieces, the entertainment company founded by the Middletons in 1987, has gone bankrupt.

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According to a report by British experts specializing in business insolvency, the company accumulates a debt of more than 3 million dollars. This information was reviewed by El País and caused controversy over the financial management of the family of the current Princess of Wales.

Why did Kate Middleton’s parents’ company go bankrupt?

The aforementioned Spanish newspaper reveals that the company, which made Kate Middleton’s parents millionaires, has been seriously affected by the restrictions resulting from the covid-19 pandemic. The pandemic caused the company’s revenue to drop, which in turn led to the accumulation of debt.

Carole Middleton, Kate Middleton’s mother: the ordinary progenitor of the future Queen of England is on the verge of bankruptcy, and her millionaire life is in danger

In May of this year, British businessman James Sinclair, known for his successful ice cream business, reached a rescue agreement that bought part of the Middleton family business and helped them out of the financial crisis. Although the exact amount for which they sold part of the company is not known.

This situation tarnishes the reputation of the Middleton family in terms of its financial management and provokes criticism from some of its associates and suppliers.

A spokesman for Sultani Gas, a supplier of helium for balloons, expressed his disappointment in an interview with the Daily Mail newspaper, saying: “What hurts me the most is that I trusted her (Carole Middleton) as a mother-in-law to the future king and she just betrayed me.”

According to a friend of Carole Middleton, quoted by the Daily Mail, the princess’ mother is “upset and deeply disappointed” by the current situation in the family business. British media reports that Carole left the management of the company to other people.

“Unfortunately, business took a turn for the worse and by the time he realized it, it was too late. “Carole believes in accountability and accepts that she was a bit naive to step back and let someone else run a business she has nurtured for decades and it was desperately sad to see the company sold like this,” the source said.

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The income from the then successful business of Carola and Michael Middleton enabled their three children, Kate, Pippa and James, to attend the most prestigious British schools. Thanks to their financial stability, they were able to afford Kate’s studies at the University of St. Andrews in Scotland, where she met Prince William and where the couple began their romance. (AND)