Is Kate Middleton’s Family Still Drowning in Debt?

Kate Middleton Crises - In Debt | Image Credit:
Kate Middleton Crises – In Debt | Image Credit:

In 2023, news broke that Kate Middleton’s (now Catherine, Princess of Wales) family business, Party Pieces, had collapsed. The company, built by Carole Middleton and her husband Michael, was once a successful party supply empire that helped propel the Middletons into the upper middle class. However, the pandemic and a failed US expansion left them with a reported debt of £2.6 million ($3.16 million) [^1, ^2, ^3].

The financial woes coincided with concerning reports about Kate’s health. News outlets like The Seattle Times claimed she was battling cancer and receiving support from her family [^3]. This led to speculation about whether the debt would further strain the Middletons.

Here’s a breakdown of the situation and its current standing:

The Fall of Party Pieces

Party Pieces, known for its جشن کی اشیاء (jashan ki chizaaien – Urdu for celebration supplies), thrived for years. Carole Middleton even had Kate working as a project manager for the company before her royal life began [^2]. The company reportedly faced its first hurdle during the pandemic in 2021, incurring a loss of £250,000 ($316,000) [^2]. In an attempt to revive the business, they expanded to the US market. Unfortunately, this expansion proved disastrous. Financial backers pulled out, and Party Pieces was unable to recover, entering administration (the British equivalent of bankruptcy) in June 2023 [^1, ^4].

Debt and Its Aftermath

The initial reports suggested a significant debt burden for the Middletons. On top of the £2.6 million owed to creditors, additional costs associated with insolvency proceedings added to the strain [^2, ^4]. However, the exact details remain unclear.

Current Situation: A Cloud of Uncertainty

There haven’t been any recent official updates on the Middletons’ financial situation. Media outlets like The Cut suggest they might be out of the major debt owed to creditors but are likely still dealing with the fees charged by the insolvency firm, Interpath [^5]. These fees reportedly stand at around £260,000 ($329,000) [^2].

Focus on Family

Despite the financial difficulties, reports indicate that the Middletons are prioritizing family. Carole, particularly, is said to be focusing on supporting Kate through her reported health struggles [^2, ^3].

Final Words

While Kate Middleton’s family business faced a significant setback, the exact extent of their current debt remains unclear. Public attention has shifted towards supporting Kate’s health, leaving the financial details shrouded in some mystery.