Carole Middleton, mother of Kate Middleton, is said to be taking extensive measures to protect her daughter from the family’s financial difficulties. Carole and her husband, Michael Middleton, reportedly owe over $300,000 in debt, as stated in a recent report by The Times UK.
The couple has faced challenges in settling the debt following the administration of their business last year. This financial strain coincides with the Princess of Wales’ revelation that she is undergoing preventive chemotherapy.
“Carole is desperately trying to keep Catherine fully focused on her recovery,” a source told Us Weekly Thursday, after The Times of London reported the extent of the Middletons’ financial troubles.
“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 insider added, referencing Kate’s sister, Pippa and brother, James.
“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.”
Earlier this week, The Times revealed that Michael and Carole’s business, The Party Pieces Company, is unable to cover the “£260,000 (approximately $329,000) insolvency firm costs” owed following its administration in June last year. The company had accrued over £2.5 million (around $3.16 million) in debt.
Royal commentator Afua Hagan said Carole would be doing “all she can” to prevent the princess from “stressing” amid her highly publicized cancer battle.
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“It’s a stressful time at the moment and she will be pulling out all the stops to shield her daughter from this,” Hagan told Us Weekly. “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.”
In 2021, the Party Pieces Company initiated a retail collaboration in the United States.
“It’s very exciting to see our Party Pieces Collection expanding into the US starting with Saker ShopRites, a leading retailer in New Jersey and family-owned business with a long history of commitment to the customers and communities its stores serve,” Carole said at the time.
However, shortly after the expansion, the company saw the departure of several crucial financial supporters, leading to the appointment of Interpath Advisory to oversee the business’s collapse.
Interpath’s restructuring professionals, charging an “average hourly rate of £566 ($716),” amassed a bill exceeding $329,000 rapidly.
Meanwhile, Kate, aged 42, has been maintaining a low profile with her husband, Prince William, and their children, Prince George (10), Princess Charlotte (8), and Prince Louis (5), following her announcement that her cancer diagnosis “came as a huge shock” .
“William and I have been doing everything we can to process and manage this privately for the sake of our young family,” she said in a video released by Kensington Palace last month, following a flurry of conspiracy theories about her prolonged absence from the public eye.
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