Kate Middleton’s Family Forced to Sell Their Online Party Supplies Business Due to Health Crisis

Kate Middleton’s parents had made a fortune thanks to their online party accessories business.

Heavily weighed down by the health crisis, Kate Middleton’s family was forced to separate from their business, reports the British daily The Guardian. Party Pieces, specializing in the online sale of party accessories, was founded in the late 1980s by Carole and Michael Middleton, parents of Kate Middleton, wife of Prince William. The company was very successful and in a few years made the fortune of the family.

But the health crisis, and the almost complete cessation of the festivities in its wake, has disrupted the family business in recent years, especially since significant investments have been made to respond to it, in particular the conquest of new markets. in Europe, the United States and the Middle East and the development of a range of own-brand products. Party Pieces posted an after-tax loss of nearly 286,000 pounds sterling (329,000 euros) in 2021.

End of the festivities

The Middleton parents had turned in March 2023 to a financial restructuring company to find refinancing solutions or new investments. Without success: Party Pieces was finally placed in administration last week and immediately sold to British entrepreneur James Sinclair. The amount of the transaction was not disclosed, specify the BBC.

James Sinclair is the head of the Partyman group, which includes leisure activities or childcare, and also owns an ice cream business. The dozen employees of Party Pieces will be taken over by the new owner of the company.