Catherine, Princess of Wales
Serious allegations against her parents
Carole Middleton with her daughter Catherine, Princess of Wales
© Max Mumby/Indigo / Getty Images
The parents of Catherine, Princess of Wales, recently sold their company “Party Pieces”, a new chapter in life awaits Michael and Carole Middleton. However, this could start with legal trouble.
Carole, 68, and Michael Middleton, 73, took a radical line a few weeks ago and sold their family business “Party Pieces” to businessman James Sinclair – after more than three decades in their own ownership.
“She just cheated on me”
Now new adventures await the parents of Catherine, Princess of Wales, 41, and the thought of finally being able to spend more time with the grandchildren is tempting. Until then, however, Michael and Carole Middleton have to prepare themselves for difficult weeks and months. The reason: Your company “Party Pieces” is said to have been sold with a debt of 2.6 million pounds (around 3,023,618 euros). That comes from a report by administrators who are trying to collect money for the company’s creditors, the British newspaper Daily Mail reports. This includes £218,749 to RBS Bank for a coronavirus business interruption loan, £456,008 to other creditors and £1.4m to other creditors. to unsecured loans. Worryingly for creditors, the report makes it clear that they are “unlikely” to get the money back.
“What hurt me the most was that I trusted her as the future king’s mother-in-law – and she just betrayed me. That is absolutely unacceptable,” a person affected is quoted as saying by the “Daily Mail”. Another businessman is now accusing the Princess of Wales’ mother of “treason” while lamenting the scale of the debt the company has accumulated.
Catherine, Princess of Wales: Her parents are under pressure
Among other things, the Middletons blame the cost of living crisis, which is said to have caused a sharp drop in sales and cash flow problems. The trustees’ report states: “Based on current estimates, it is uncertain whether funds will be available to allow distribution to preferred creditors. It is unlikely that funds will be available to distribute to unsecured creditors The documents also detail how the pandemic has affected the company.
According to this, between 2021 and 2022, revenues have fallen from £4.5 million (about 5,232,240 euros) to 3.2 million pounds (about 3,719,510 euros), with the company posting a total loss of 900,000 pounds (about 1,046,583 euros) has suffered. “Management attributed this to the Covid-19 pandemic leading to fewer social gatherings and a drop in discretionary spending due to the cost of living crisis. This resulted in a constraint on the company’s cash flow.”
Sources used: dailymail.co.uk