Sophia Michaels
Despite their daughter’s royal status, Kate Middleton’s parents, Michael and Carole Middleton, faced significant financial struggles. In April 2024, as Kate battled health issues related to a cancer diagnosis, her parents were dealing with severe debt tied to their business, The Party Pieces Company. This debt stemmed from insolvency costs incurred during the business’s decline.
An insider revealed to Us Weekly that Carole was doing her utmost to support Kate during this challenging time, without involving their children in the family’s financial issues. Unfortunately, the Middletons’ monetary troubles were developing over some time.
The issues for the Middletons began when Carole decided to sell her share of Party Pieces to pursue a semi-retirement for family time. However, the COVID-19 pandemic severely affected the party planning business, and due to her absence, she was caught off guard by the severity of their financial decline. Reports from the Daily Mail indicated that the company had accumulated debts of £2.6 million, reflecting a stark reality of their former successful business.
Michael and Carole Middleton faced the costs of their business struggles
Following their financial downfall, the Middletons initiated insolvency proceedings, equivalent to bankruptcy in the U.K., and sought assistance from the Interpath Advisory firm. They successfully sold their company to businessman James Sinclair in 2023, but not without complications. Sinclair defended Carole’s choices, stating her sale of the business was not the cause of its troubles.
The sale and insolvency process came at a steep price for the couple, who ended up with a debt of £260,000 owed to Interpath. A report indicated that the process took longer than expected, leading to increased fees. Thankfully, Interpath has indicated they will not be collecting all of the fees owed, which comes as a relief to the Middletons.
