Kate Middleton's Family Business Allegedly In Serious Debt; Prince William's In-Laws Owe $329,000
Kate Middleton's parents allegedly are struggling to pay their bills and are now in debt after the collapse of their party company, a report has claimed.
Carole and Michael Middleton allegedly owe the firm they hired to help them navigate the insolvency of their embattled business, Party Pieces, £260,000 (over $329,000), The Times U.K. reported. Enstarz could not independently verify this information.
According to the report, Prince William's in-laws are unable to pay the total fees.
Party Pieces fell into administration in June last year, with $3.16 million of debt.
Interpath Advisory was the firm appointed to handle the business' collapse.
The firm charged an "average hourly rate of £566 ($716)," and the Middletons' bill eventually climbed to more than $329,000.
Interpath Advisory acknowledged that it will not be receiving its full payment from Middletons, according to the outlet.
(Photo : Leon Neal/AFP via Getty Images)
An unnamed source told Us Weekly that Carole has been shielding Princess Kate from the family's financial woes as she undergoes cancer treatment.
"Carole is desperately trying to keep Catherine fully focused on her recovery," the insider claimed. "It's a very worrying time for the family but they are not looking for any assistance from their children and don't want them to worry."
The source added, "Catherine and her parents are very close and they always check in with each other, but talk about the business is off limits as she needs to focus on her health."
The Princess of Wales, who worked for Party Pieces before marrying Prince William, revealed last month that she was diagnosed with cancer after undergoing planned abdominal surgery in January.
In the video message she posted on social media, Princess Kate also shared that she had started undergoing a course of preventive chemotherapy treatment.
(Photo : Jane Barlow - Pool/Getty Images)
Afua Hagan, a royal commentator, told Us Weekly she believes Princess Kate's mother "will be doing all she can right now to stop her daughter from stressing as she undergoes chemotherapy."
"It's a stressful time at the moment and she will be pulling out all the stops to shield her daughter from this," Hagan added. "Party Pieces has collapsed and it's been devastating for the family, but Carole will be most concerned about Kate's well-being right now."
Party Pieces, which the Middletons established in 1987, was sold to entrepreneur James Sinclair last year for an undisclosed figure, the BBC previously reported.
The party goods supplier sold banners, cakes, personalized helium balloons, and many other paraphernalia.
