Weeks ago, we heard the somewhat sudden news that Carole Middleton hired an “adviser” to help her sell Party Pieces, the “party supply” catalog company widely reported to be the source of the Middleton family’s mysterious wealth. It was no secret that PP’s business has been failing for years, and while the Middletons blamed the pandemic and the post office, I would argue that party-supply discount stores and Amazon are the real reasons why PP has lost millions. Plus, not for nothing, I never believed that PP was all that successful to begin with. Well, recently we heard that Carole and Mike Middleton are definitely selling the business and they’re planning on retiring to spend more time with their grandkids. Well, funny story – PP’s business is in such shambles that the Middletons are offering a six-figure “dowry” to whoever “buys” the company.
Party Pieces, the online party goods supplier founded by the Princess of Wales’s parents, is considering handing a six-figure sum to a buyer as part of efforts to offload the business.
Sky News has learnt that a dowry deal is one of the options being considered by Carole and Michael Middleton as they seek new owners for the company they founded in 1987. Sources said on Monday that a dowry was under discussions with prospective bidders as the Middletons and their advisers at Interpath, the restructuring firm, seek to finalise a deal.
One of the leading contenders to acquire Party Pieces is Club Green, a family-owned business which has also operated for decades in the party goods sector, the sources added.
The Middletons, who conceived the business as they were seeking inspiration for daughter Kate’s fifth birthday, were reported to have instructed Interpath to find a buyer last month. Insiders said there were “multiple parties” interested in acquiring Party Pieces.
The prospective dowry is said to be worth less than £1m. According to information circulated to potential bidders, Party Pieces has shown “some recent UK performance contraction during international expansion and focus on margins”. The company is reported to have made losses in the last financial year for which accounts have been filed.
One industry source said the Middletons were “trying to do the right thing for the business and its stakeholders”. A spokesperson for Mrs Middleton declined to comment, while Interpath also declined to comment.
While I don’t have an MBA, I can safely say that it’s a really horrible sign that the Middletons have to pony up hundreds of thousands of dollars/pounds to SELL their business. While we knew the business wasn’t healthy or successful, before now, I never really considered the fact that PP likely holds more debt than it’s worth. Think of it less like a “dowry” and more like “whoever ‘buys’ Party Pieces will be buying debt, and the whole thing will probably be some huge tax write-off.” They’re not looking for someone to buy the business, this is a fire sale and someone is basically just being paid to take their remaining product and then PP will cease to exist. Jesus H. This is a horrible look for the Future Queen’s parents. Carole so wanted to be queen too.
Photos courtesy of Backgrid, Avalon Red, Cover Images.
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- 166648, The Duchess of Cambridge and Carole Middleton attends the opening day of Royal Ascot in Berkshire. Ascot , United Kingdom – Tuesday June 20, 2017. UK, FRANCE, AUS, NZ, CHINA, HONG KONG, TAIWAN, SPAIN & ITALY OUT Photograph: © Stephen Lock, i-Images, PacificCoastNews. Los Angeles Office (PCN): +1 310.822.0419 UK Office (Avalon): +44 (0) 20 7421 6000 sales@pacificcoastnews.com FEE MUST BE AGREED PRIOR TO USAGE
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- 166648, The Duchess of Cambridge and Carole Middleton attends the opening day of Royal Ascot in Berkshire. Ascot , United Kingdom – Tuesday June 20, 2017. UK, FRANCE, AUS, NZ, CHINA, HONG KONG, TAIWAN, SPAIN & ITALY OUT Photograph: © Stephen Lock, i-Images, PacificCoastNews. Los Angeles Office (PCN): +1 310.822.0419 UK Office (Avalon): +44 (0) 20 7421 6000 sales@pacificcoastnews.com FEE MUST BE AGREED PRIOR TO USAGE
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- Carole Middleton Royal Ascot at Ascot Racecourse – Ladies Day, Day 3 Berkshire, England – 21.06.12,Image: 308735318, License: Rights-managed, Restrictions: , Model Release: no, Credit line: – / Wenn / Avalon
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- Carole Middleton attending the wedding of her daughter Pippa Middleton and James Matthews at St Mark’s Church, Englefield, Berkshire, UK. 20/05/2017.,Image: 513165692, License: Rights-managed, Restrictions: NO UK USE FOR SEVEN DAYS- Fee Payable Upon Reproduction – For queries contact Avalon.red – sales@avalon.red London: +44 (0) 20 7421 6000 Los Angeles: +1 (310) 822 0419 Berlin: +49 (0) 30 76 212 251, Model Release: no, Credit line: – / Avalon
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- 167256, Carole Middleton, the mother of the Duchess of Cambridge and Pippa Middleton, spectates from the Royal box on day four of the Wimbledon Tennis Championships. London, United Kingdom – Thursday July 6, 2017. UK, FRANCE, AUS, NZ, CHINA, HONG KONG, TAIWAN, SPAIN & ITALY OUT Photograph: Ã?© Stephen Lock/i-Images, PacificCoastNews. Los Angeles Office (PCN): +1 310.822.0419 UK Office (Avalon): +44 (0) 20 7421 6000 sales@pacificcoastnews.com FEE MUST BE AGREED PRIOR TO USAGE,Image: 533038972, License: Rights-managed, Restrictions: WORLD RIGHTS, DIRECT SALES ONLY UNLESS STATED OTHERWISE IN CAPTION – Fee Payable Upon Reproduction – For queries contact Avalon.red – sales@avalon.red London: +44 (0) 20 7421 6000 Los Angeles: +1 (310) 822 0419 Berlin: +49 (0) 30 76 212 251 Madrid: +34 91 533 4289, Model Release: no, Credit line: i-Images, PacificCoastNews / Avalon
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- Carole Middleton and Michael Middleton arrives at the state funeral and burial of Britain’s Queen Elizabeth, at Westminster Abbey in London, Britain, September 19, 2022.,Image: 724081127, License: Rights-managed, Restrictions: -, Model Release: no, Credit line: Geoff Pugh for the Telegraph / Avalon
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- Carole Middleton The State Funeral of Her Majesty The Queen, Service, West Door, Westminster Abbey, London, UK – 19 Sep 2022,Image: 724158170, License: Rights-managed, Restrictions: , Model Release: no, Credit line: James Veysey/Shutterstock / Avalon
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- WINDSOR, ENGLAND – SEPTEMBER 19: Carole Middleton and Michael Middleton arrive at Windsor Castle ahead of the Committal Service for Queen Elizabeth II on September 19, 2022 in Windsor, England. The committal service at St George’s Chapel, Windsor Castle, took place following the state funeral at Westminster Abbey. A private burial in The King George VI Memorial Chapel followed. Queen Elizabeth II died at Balmoral Castle in Scotland on September 8, 2022, and is succeeded by her eldest son, King Charles III.,Image: 724191188, License: Rights-managed, Restrictions: -, Model Release: no, Credit line: Leon Neal / Avalon
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- Carole and Michael Middleton arriving for the ‘Together at Christmas’ Carol Service at Westminster Abbey in London. The service will be broadcast on ITV1 on Christmas Eve as part of a Royal Carols: Together At Christmas programme, narrated by Catherine Zeta Jones and featuring an introduction by Kate and tributes to Queen Elizabeth II.,Image: 744946541, License: Rights-managed, Restrictions: , Model Release: no, Credit line: Kirsty O’Connor / Avalon
Not a business person but sounds pretty desperate! Wonder if they’re facing bankruptcy if they can’t sell?
That is just the true state of Britain. A bankrupt dumpster fire of an empire going tf down
It sounds like they’re staring bankruptcy in the face, which is why they’ve got a ‘restructuring’ partner.
William will probably throw some money their way so they won’t have to declare bankruptcy, which would be embarrassing. Probably use a friend or sycophant to be the one to “buy” the worthless business. After all, nobody follows up on what William uses money for (where did 7million pounds of unaccounted for Earthsh!t money go? Who knows, and nobody cares enough to find out).
I’m guessing the war in Ukraine plus the pandemic put a huge dent in Uncle Gary’s human trafficking business, for which his sister’s Party Pieces company was always a money laundering front.
Most likely. I think the Middletons have been milking cash from that business for years to fund their children’s expensive education and provide the daughters with the best man hunting tools available. So much has been spent on ensnaring Willy that he had to give them a $7.5M loan for their home in Bucklebury.
They might just end up shutting down the business at this rate.
Wouldn’t it just “look” better to close the business at this point because now the people running PP look/are just as incompetent as the PR people running Chuckles, Wills, and Wiglet’s lives? And why wouldn’t you put your PP crap on Amazon in the first place? It doesn’t make economic sense to keep doing the same thing repeatedly, hoping things will change. Doesn’t it make the most sense to slog your shite on one of the largest shopping platforms available? Common sense is not strong in these people.
With more debt than assets, Carole would have to declare bankruptcy in order to shut it down without being on the hook personally for everything that is owed. This is a frantic, last-ditch attempt to avoid declaring bankruptcy. It will be very interesting to see who bails her out.
@Teddy – I don’t know anything about UK bankruptcy law, but would Carole really be on the hook personally if the company had to go bankrupt? In the US, that wouldnt generally be the case, though of course im sure as one of the main shareholders (assuming this is in some sort of corporate form?) she would stand to lose a lot of money as she likely had a lot of equity in the company and who knows, maybe even fronted it with personal loans at various points to try to keep it running? I’m sure she stands to lose a lot of money, but if it really has to go bankrupt, I think most companies are set up so that Carole personally wouldn’t owe creditors of party pieces. That being said, what an embarrassment if it went bankrupt so ik sure they’re trying to do everything they can to arrange a private sale and this whole dowry thing sounds ridiculous – sounds like it has more debts than assets and they are desperate to keep it out of the news/bankruptcy for the bad press.
@Claire no Carole would not necessarily be on the hook depending on how the business is incorporated.
I am guessing (hoping) they’re set up as a Limited Company and not just a family Partnership otherwise that complicates things.
If set up as a Ltd Company, then PP’s liability would be limited and wound up should the Company fold, unless it can be proven that there was some sort of misconduct, misfeasance, negligence on criminal act on the part of one of the company directors or officers, which would then allow a judge to ‘pierce the Corporate veil’ and remove the protections of the Ltd Co incorporation (this very rarely happens btw as the standard is so high bc you’d need a literal smoking gun). And even in those instances that would be done by a govt official or complaintant suing the company which I don’t see happening. The Midds are home and dry now and I suspect Chuckles has just asked them to stop being production line workers for respectabilities sake.
Rather it sounds like the market moved on and the Midds didn’t move on with it. Carole’s business model worked in the 90’s and early 2000’s in the days before Ali Express etc when cheap tat was not as easy to come by directly to the public. In fact I remember all the party shops that littered the UK high street at the time.
In any case I suspect that Carole is happy now to bask in the glow of having secured the Royal bag, especially as PP’s has not been profitable for years. These days people just order on eBay, Amazon or Ali Express and there is no way that PP’s can compete with those economies of scale.
Add to that Carole’s age and the slow and steady rebranding over the last few years in readiness for the titles that Chuckles is about to dish out to the Midds and Parker-Bowles (and possibly the Tindall’s)….
I am a finance person. This is a terrible financial decision. It’s basically a vote of no confidence.
Oh Carol how the mighty are falling. Couldn’t happen to a nicer(not) person. But yeah good to retire now because you probably are going to be need to pick up some other pieces 😉.
What’s also funny is William, son in law and future king, is not sending Duchy of Cornwall funds (personal income) to bail out Party Pieces. Didn’t Bill pay for Middleton Manor and some work on the driveway early in his marriage to Kate? To me this confirms trouble with the Waleses and Kate is on her way out.
William and kate won’t divorce. I just don’t see it happening especially since the arrangement that they have now seems to be working. Bill gets to cheat and cathy gets to spend money and wear pretty jewelry. A divorce would be another pr nightmare
I think you’re right, I doubt they have the courage to divorce, it would be horrible PR
I also see this as Kate on her way out.
I don’t remember the driveway stunt. I remember the Midds getting special/rare permission to expand their previous property, claiming they needed to expand the space to house RPOs. The second the council agreed to that under pressure, the Midds turned around and sold the property for much more than it was worth. The expansion permissions upped the price significantly.
IMO William did pay some/all towards their new house as Kate’s post-nup. Years ago some royal sleuths unearthed two foreign mortgages on the previous Midd home. They were never rolling in money but wanted to make sure no UK banks knew it.
the driveway stunt was at Anmer I think so probably the queen or Charles paid for it. They had the driveway….moved? Like shifted 6 inches to the right or something like that? It was even included in the Windsors on Netflix lol.
I remember that one, where they ended up making life incredibly difficult for people who attend the local church. Completely rerouting the access to the church and moving the parking lot because W&K didn’t want the religious plebs allowed near them.
I don’t remember anything about driveways at Midd Manor. Millions in taxpayer funds used to upgrade their house’s security and provide security onsite, but nothing about driveways.
I think the driveway thing was that they got it paved, which was very middle class of them. Posh people gravel their drives, apparently.
@beanie oh I remember the paving but can’t remember where that was. I also remember something about the driveway at KP, was that the one that was paved?
either way there have been enough driveway issues that its funny we don’t know which one the poster is talking about lol.
Becks, they moved the TENNIS COURT a couple of feet because they didn’t like the “view” from one of their window.
https://www.dailymail.co.uk/news/article-3149636/Tennis-lover-Kate-forks-60-000-court-just-36ft-Duchess-Cambridge-plans-spend-eye-raising-sum-improve-view-Amner-Hall-Norfolk.html
@Jan yes you are right! The tennis court. Is that better or worse, LOL. The driveway thing was the pavement vs. gravel thing I think.
also I’m surprised that article is still there on the DM.
ETA omg it was both the tennis court and the driveway –
“As well as rerouting a driveway to make it more private and relocating the swimming pool, the couple have installed a new roof and a conservatory’
Okay, let’s see if I have this straight. William paid for most or all of the Middleton’s current home. The “driveway” probably refers to two different things. First, a new driveway at KP and, second, the long drive to Amner that the then Cambridges had put in.
This split the village green, basically making it unusable. It was said at the time that Kate and William didn’t like having to drive around the green past the plebes because then they would know their business, I.e when they were coming and going from Anmer (or when William would head out solo to visit Rose). Green Parks William and Kate also co-opted the field by KP that was being used by local children so that a helicopter could land there.
The tennis court was not only moved just a few feet but actually encroached on their neighbors land. The neighbor’s land was somehow ceded to the Cambridges. Maybe he was a tenant, or maybe he was paid off for the portion of the land that the Cambridges needed for repositioning their tennis court. Who knows. And, as someone noted above, the Middletons gained planning permission for space to house Kate’s RPOs when she was staying with them.
Couple all of that with the fact that from every single place the Cambridges have lived, in England, they had the prior tenants kicked out.
Whoa! All I can think of in comparison is the way Harry was living in small, rundown, low-ceilinged, inadequately furnished Nottingham Cottage, with no rush to get him upgraded before his imminent marriage. At the same time, Chuck had the nerve to suggest to Harry that Meghan might want to continue her acting career because “there’s no money available for her.” Meghan ends up footing the bill for all her clothes, and using her credit card to purchase a decent sofa for NottCott. SMH! 🤨
Heck, Chucky hadn’t even been taking care of Harry that well in terms of lodging and clothes, even with Harry being the most popular, hardworking and valuable royal after QE-II. But the Cambridges and the grifting Middletons were worth this kind of excess. 🙄
Not to mention the bad press M&H received when their living situation was finally upgraded to Frogmore Cottage. The fact that M&H paid for additional construction to suit their needs, and they bought all the fixtures and furnishings, made no difference to the rota’s negative rants.
At Mary. After reading Kate and will kicks people out. I have to wonder did will and Kate call the press to make a big deal out of frogmore cottage. I assumed it was just the press running constant stories about the renovations. I now think it may have been William keeping score. The press usually run a few stories about homes and waste. The frogmore process was covered indepth.
I don’t think royal lodge and Andrew got those many stories that fast.
The duchy funds are strange because they aren’t exactly public but they aren’t exactly private funds. Aren’t there trustees that need to approve expenditures as well? The funds that William received from Diana’s death years ago were actually private funds so they could be used to pay the Middleton’s etc. But I’m pretty sure that even if William wanted to, which he probably doesn’t, he couldn’t just pay the Middleton’s out of duchy funds.
Why isn’t Bill bailing out his inlaws with Duchy of Cornwall money?
Because he’s greedy and so is his wife
He does have to justify his expenses to the board. Sure, the board will approve paying Camilla’s sister to decorate Duchy properties. There’s a purpose there that can be pointed to, a reason why an insider is the only one to be trusted for security reasons. Doubtful they’d approve money sent to bail out a party tat company for no reason.
Okay so the dept ia probably more than we thought. My question: where did carole and her hudband get their income in the years that party pieces was running loss after loss?
Dodgy uncle Gary and Bill/Chuck.
They made sure they got their salaries–that probably contributed to the loss.
I guess Uncle Gary got tired of footing the bill? Or are the banks calling in their loans? Either way, they know they can’t file for bankruptcy because of image reasons. I wonder if the 6 figures is part of Kate’s hush money arrangement with her husband?
I am not a business person either. this does not seem common or a good sign to me re: the health of the business.
I don’t have a lick of business sense so for those who do: is it bad news when a business has to do these types of deals?
I have zero business knowledge but why would anyone buy a company so deeply in debt? Do they think they can break it off into pieces and sell the pieces at a profit? They are basically saying we will give you money to take this financial burden off of us.
I still think party pieces was a cover for money laundering for Uncle Gary’s drug business and it was never worth anything to begin with.
Yes
I always thought PP was a money laundering front. With Dodgy Uncle Gary busted, what purpose could PP serve?
Remember when the police busted that massive pot growing farm back behind the Middleton’s house? That they knew nothing about? What if UG was put out of business quietly to protect the BRF?
I’ll bet the royal adjacent (and complicit) brought out the knives for all the “social climbing” Middletons. As if age could make colonial money clean. Hypocrites.
Yes
I always 5hought PP was a money laundering front. With Dodgy Uncle Gary busted, PP served no purpose.
Remember when the police busted that massive pot growing farm back behind the Middleton’s house? That they knew nothing about? What if UG was busted quietly to 0rotect the BRF?
I’ll bet the royal adjacent ( and complicit) brought out the knives for all the “social climbing” Middleton’s. As if age could make the colonial money clean. Hypocrites.
She started her business in her kitchen and became a millionaire. You might not like her but she is to be admired. I admire all successful women surviving in our still-male-dominated world.
And this is why I despise the whole “Girlboss” movement.
We do not need to praise a woman just because they did well in business if there is evidence they’re a not so great person.
Exactly!
Why am I supposed to support this woman who raised a bigoted mean girl cut from the same cloth as mummy dear just because she came up with the “brilliant” idea of balloons, paper hats and plates at a child’s party?
I also question the legitimacy of their ‘millions’.
@Pumpkin 👏👏👏
Fine, she was at one time successful, but to PAY someone to “buy” her business is so sketchy, I mean the story of her business is not concluding in “success” by that measure, and you have to wonder how much of her prior success was really her work versus some kind of grift or just plain old luck/coincidence.
You mean Carol(e) was in her kitchen when Gary Goldsmith asked her to launder money for him.
@Linder LOL. I mean if you believe that story…sure. But I don’t. The business was a front for Uncle Gary’s money laundering.
She was bank-rolled by her rich as Croesus brother, I imagine he was laundering dirty money. The business has never done well and is now teetering on bankruptcy, and Uncle Gary has disappeared.
Probably don’t want to be seen as putting their employees out of work. So, palm it off onto someone else to shut down.
I seriously doubt that.. I mean, look at this phrase of the article:”One industry source said the Middletons were “trying to do the right thing for the business and its stakeholders”.. nothing about doing the right thing about their employees, not even for appearances sake… they simply don’t want to be responsible for any kind of business failure after years of highlighting their success million dollar storyline.
I have only ever heard of this “dowry” scenario being offered when the company in question is in dire straits, i.e. brink of insolvency. That must be the case here. They must have huge debts. And they had major new investors come on board a few years back so I guess if they’re not seeing a return, and losses keep increasing, they’ll be losing patience.
My guess is they want to offload it (so much so that they’re willing to pay to make this happen) rather than face the embarrassment of the company going insolvent while they still own it.
I’m sorry but I can’t understand the whole thing. I admit I have zero business knowledge but paying someone to buy your failed business a six figure amount of money instead of paying your debts defects any kind of common sense.
Various scenarios they would pay:
1. Shareholders demanding an immediate exit strategy. (who are these shareholders? the Bully? Could it be listed under a Trust?)
2. Given the higher profile of the Wails, the Midds need to exit their shady business urgently as further scrutiny may unearth the truth behind their business operations and supposed wealth. Was it used as a funnel to pass cash for honors, was it used for laundering purposes?
3. Creditors knocking at the door, and to prevent further haemorrhage of the capital
why would someone buy? They are in a related business and would buy the stock in a fire sale.
I think someone would buy to curry favor with the future king and queen
Having checked the company’s info on the UK Companies House, it appears that two of the directors have just resigned (late last month, with the confirmation filed only yesterday). These were both major investors brought in in 2019, they also each took a shareholding in the company. So I guess that means they have withdrawn their support.
@Jensa, isn’t investigative reporting wonderful? The reported losses, partnered with the departure of the major shareholders, indicate some kind of devastating financial crisis in the business, hence the urgency to liquidate, When Karma comes for you, she hits where it hurts.
It’s a little bit delicious that launching in the US was clearly a hail mary to try and turn things around and it has clearly failed spectacularly because *newsflash* no one in New Jersey cares about her or the royals
That business seems like dropshipping. She should not be losing investors money. And why would anyone invest in this. It shouldn’t need investors at this point
Why don’t they just go out of business and retire like regular people?
I was wondering that, too. Is simply closing the doors & selling off stock & shelving & etc. not an option? My local yoga studio had to do that.
Going by the latest published accounts (which are not bang up to date), the debts far exceed the value of the company’s stock and assets. So that would be unlikely to solve the problem in this case.
This is to avoid a bankruptcy plain and simple and to hide their shady money laundering/tax avoidance schemes. That business never made any money, esp not the kind of money that funded the lifestyle they liked to show off they had – they also at one point had a lot of personal debt relating to their previous property.
They lived beyond their means and have always done – plus I think Uncle Gary has stopped bank rolling them as he hasn’t been getting any returns for his investment in kHate’s great Prince hunt.
Surely they can find some nice Russian oligarch or Saudi dictator to buy the business in exchange for citizenship and access to the future king.
🤭
Snuffles – that they can’t find an oligarch or Saudi to prop them up in exchange for access to William strikes me as one of the clearest signs that William is distancing from Kate. Because if the Wales’ marriage were solid (or, at least, not in danger of imminently collapsing) that is the usual go-to solution for the Royals. Fergie does it with Andrew, Fawcett did it for Charles. It would be a phenomenally easy sell to a Russian or Saudi. Small change for some billionaire in return for access to the future King – who is, what – ten years tops off the throne? Simples.
That the Midds are floundering about like this tells me William has told them they’re on their own…
^^ Maybe in the past. But at this point, with all the Chucky/ Fawcett revelations about ‘cash for access,’ the scrutiny on Prince Michael for his connections to Russian oligarchs, it doesn’t seem to be the best option to try unloading the business in this kind of way. Even Fergie & Andrew have had to tighten their belts, with Fergie out there trying to make a go of gaining an honest income via her writing.
The Midds apparently have been trying to do this as discreetly as possible with minimal media exposure. And what coverage there is has not been overly harsh or deeply scrutinizing. Anything untoward would not be able to get safely covered up in this current environment.
This. There is zero chance that their business ever afforded them the lifestyle they have had: London flat, big country house, shares in a racehorse, all the trips, clothes.
Given 1. what this business sells and 2. the state of the economy in recent years I think the only real question is how they didn’t go under years ago.
Which brings me to the conspiracy part of my thinking that it’s been a front for years to funnel money to the family, from Dodgy Gary and Chuck. Now that Bill is PoW he has his own money and/or is going to ditch KKKhate they’re essentially bankrupt.
Any business in the UK which has made “millions”, as claimed, from flogging cheap bits of party tat would at least be a household name. Party Pieces just never was. No one ever heard of it before the Kate-related publicity. I also don’t know a single person that has ever used them. If you want party bits, there are many better places to get them from – card shops, party shops, even supermarkets these days (and Amazon). The whole back story of this company is sketchy. I suspect it’s been propped up for years (by Uncle Gary, Mike Middleton’s own wealth, possibly William, and the investors whose only role has been to pour yet more money into the hole). It’s been making losses for years.
Seems to me that there are a number of debts and obligations attached to the company. There may be loans, unpaid taxes, unpaid rent, unpaid bills to vendors. There might also be a long-term lease of some sort that the prospective buyer would have to assume.
If the Middletons aren’t going to get any money out of this transaction, I don’t see why they wouldn’t declare bankruptcy, but then I don’t know anything about UK bankruptcy laws and it probably wouldn’t look good for Will and Kate, either. Plus, don’t the Middletons have partners in this business? What’s the deal with them?
Definitely unpaid bills to vendors. Remember the recent story of the Midds trying to stave off paying their 30 day invoices and stretching it to 90+ or indefinitely?
Bingo – there trying to pass their debt and legal liability onto someone else, the can’t/won’t pay their bills. I wonder who’s coming up with the dough for the ‘dowry’. Her brother or SIL?
Also don’t the Middletons own outright the barn that they run the business from? As someone else says it sounds like they want someone to buy their stock and debt allowing them to wind down the business. This isn’t the first time they’ve tried to sell it and I don’t think anyone will buy it not with all the stories out there about kHate’s behaviour. The Middleton name is mud or becoming so.
@Digital Unicorn – the name that’s mud right now is Party Pieces. But the Middletons only own 50% of the company. The sold part of the business a couple of years ago to Steven Bentwood, a lingerie guy who become CEO of PP, and some other guy (a sports tycoon?) They must be involved in the sale, too. Or maybe they’re negotiating to take over the whole business and the Middletons will have to pay them to get out.
Those two new guys have just resigned as directors, so I assume that means their support is now withdrawn .
@Jensa – thanks so much. This whole thing is so sketchy – I wonder why these guys got involved in the first place.
Bankruptcy would be very problematic for the Carole and Michael now that they’re closer to the top of the food chain.
Effectively the Liquidator could reach into their pockets in certain situations, so it would look very odd if Carole and Michael are swanning around hobnobbing with Aristos and living in a 3M home, the premises of which seem very tightly linked to the business.
Basically a whole series of headaches for them and potentially their children whom all appeared to move close by recently. If a Liquidator or Forensic accountant were to start poking around, who knows what they might find…..?
If the middletons own the barn outright then this story is crazy.
It’s obvious they riddled that business with credit line debt. Did the middletons do it or the new investors. This sounds like a mafia scam. The mobsters join a business, riddle the business with debt while selling things through the side door. I don’t know. Kate and Pippa need to buy it, for appearances sake.
So basically the business is worthless. Or has a ton of debt. Or is about to get sued. Or all of the above. I also think this is another indication that Kate is on her way out. Otherwise, I think the royals would step in to cover this up, even if only to help find a buyer. Unless they want the Middletons to twist in the wind a bit.
After everything the Middletons did to Charles and Camilla I´m sure he is in no hurry to help them out. They can sink by their own weight.
Why don’t they just lower the asking price?
Likely because their debt outweighs the company’s value.
THEORY: It’s clear that William is refusing to bail them out. If they are forced into bankruptcy, would they have to show their shady books and potentially be exposed as criminals? If yes, William can feign being shocked by all of this and accuse them of using the shady business to scheme to get Kate into his life for The Crown. Which is true. He can comfortably divorce her without accepting fault. The press will continue to ignore his numerous affairs. Then they will build up the next woman, Rose, at the one who healed his broken heart.
Bingo. This is preparation for Khate being eased out and Willnot coming out smelling like a Rose (that was deliberate). It would also explain Khate’s demeanour over the past few years. The shocking weight loss, not being *there* when she has to do public events, sometimes looking as if she’s on tranquilizers or uppers. She knows she’s clinging to a sinking life raft and the BRF is setting the stage for her to be quietly put out to pasture with her family.
I love all of this for Kkkate. She deserves all of this angst and rejection, she earned it.
I. Cannot. Wait.
If William is distancing himself (it has actually looked like that for a while), that’s quite a brave move on his part. I can only imagine what secrets Carole might spill if she’s pissed off (all those cosy chats with his head on her lap …).
It would be better, in terms of ethics, to just shut down entirely. Sell your inventory to another business at cost, pay your employees what is their due, and turn the page.
It seems they have the money to “tempt” the offer however whoever buys it will shut it down as soon as fiscally convenient and write it off. Employees are the real losers here.
What gets me about all of this is just how much KM and the Middletons are/have been protected by the UK press. It’s outrageous.
However, if the nett result is that the Midds are forced to take a much lower profile than previously – or disappear altogether from public view – then the British Public will be mightily relieved!
Given the Middie kids failed careers i.e. Pippa’s attempt at an entertaining book, James’s Boomf (by the way, he’s now selling a birthday card that says “May your day be filled with HA-PENIS.” Yes, really, don’t blush, ladies!) and Kate’s only success was waiting 10 years for a proposal, there certainly weren’t any business abilities inherited.
How can Kate not be on the way out? Is the Establishment really going to allow the Middlebums and their in-laws (Spencer Matthews on the Buck balcony anyone?) the run of Buckingham, Balmoral, KP, Sandringham and Windsor Castle once Chucky, Anne and Edward are gone?
Chuck is useless. Yes, he should have made the Edinburgh title hereditary so Louise got it and could add more Windsors to the lineup.
The monarchy will go the way of Party Pieces …
I just looked up boomf. Him and the business partner sold it -according to daily mail- because they ran out of cash in 2021. It’s 2023, i just went over to the site. It’s cute. The candy boxes are A little small but the price seems fair. How did they ran out of money and with his sister being a princess. All they needed her to do is open a box. No one was willing to promote his business.
Thanks. Last time I looked (time flies), James and his partner were presenting their Boomf marshmallows with newscasters faces printed on them on breakfast TV. James has certainly had a lot of sympathetic media coverage in the BM and Stateside, along with rest of his family. He’s George’s uncle, after all.
Tin foil tiara: another hit job courtesy of BP. Putting it out there that the Middletons are too broke to pay attention – payback for Uncle Hookers and Blow for crying to the press that the Crown should pass over Charles and go to William, and that Kate is ready to be queen now. It also highlights Carol pimped out her kids to marry into affluent families to upgrade the family’s social standing. The aristos still look down on the Middletons despite Kate’s future queen status.
I don’t think that’s a crazy assumption. We all know they brief against each other and have stories (whether true or not) placed.
Mmmmm wonder if pp had a BIG washing machine for uncle Gary to use 🙄and now, uncle Gary has a new one so the CASH FLOW has fallen back to what it actually was!! Now for a savy business woman (i know, I know she’s not) she could have advertised a brand new line in wiglets and trinkets, (just like my daughter wears) 🤣🤭🤭🤣
Yup. And Uncle Hookers-n-Blow has been unnaturally quiet for some time. Usually he’s bloviating in the press or TV interviews, but he’s gone doggo for a while now. I think the Midds have been put on blast for the last time and they’re circling their wagons and setting themselves up to “go gentle into that good night” to paraphrase Dylan Thomas.
@JADED, LOVE THIS and your previous comment 😀
I am guessing that there has been some funky accounting over the years (and possibly money laundering), which would make and Insolvency a no go as the Insolvency Administrator is an officer of the Crown so must act accordingly.
So the only way to avoid that embarrassment and bad publicity is to gift the company as a going concern to a third party who wants the Royal connection and adjacency (i.e. a Mohamed Al-Fayed type figure) who could maybe take the company global in Asia where PP’s business model ‘might’ still thrive due to the nature of extravagant celebrations etc
All the above of course would require A LOT of NDA’s and favourable seats at Ascot etc etc.
Personally I don’t see it happen as they’re effectively looking for someone who has millions to throw away and then wind down a company and the only candidates for that are dodgy business men looking to gain a foothold in the UK and wash some money in the process.
Carole needs to hire some creative accountants and just shut the whole thing down and move on.
The Guardian had an article on a “gift” appartement in Edinburgh that the RF has illegally been making money on. At the moment, their focus is on QE2, KC, and the family more as a whole. The Middletons are more off to the side, but selling PP should raise questions about their finances as well. If and when that happens, it will be interesting to see how the RF reacts in regards to K.
So the Duchy of Cornwall is all private money for William? I thought he was meant to do something else with it?
They’re not all private funds, I believe they can only be used for certain purposes and there is some sort of trustees or board that needs to approve distribution, and accountings need to be done etc. Even if William wanted to, he couldn’t use duchy funds to bail them out of this.