"Oh, Americans didn't know Kate Middleton's mom was Britain's Kris Jenner," one user wrote. Carole Middleton has indeed benefited from an unexpected spotlight after the release of season 6 of The Crown, unveiled on December 14, 2023 on Netflix. In episode 7, the former flight attendant appears ambitious, even strategic, which has earned her comparisons to the famous "momager". In some sequences, she even appears to be working to push her daughter into Prince William's arms. "Mom, she's a prince," protests young Kate Middleton (Meg Bellamy), unconvinced. Carole Middleton (Eve Best) then launches into an impassioned plea.
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"Never think you're not good enough"
"When I met your father, he was too good for me, too," he is heard saying. I was just a humble stewardess. I was pushing carts." He added: "Her grandmother was close to the Queen's aunt. His father had rubbed shoulders with Prince Philip in the RAF. I felt so lucky. Then I started the family business and I was so successful that your father was able to quit his job and come and work full-time for us. And I realized that maybe it was the other way around. That he was the lucky one. Never underestimate yourself. Never think you're not good enough."
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It is unclear whether the businesswoman actually made this kind of statement. But according to British royal expert Tina Brown, it's "unlikely Kate would be where she is today if her mother hadn't effectively helped her negotiate this royal romance." A journey reminiscent of that of Kris Jenner, matriarch of the Kardashian clan. A former flight attendant, she married lawyer Robert Kardashian, before counting on her daughters' success. Born on January 31, 1955 - the same year as the aforementioned Kris Jenner - in London, Carole Goldsmith (her maiden name) also did well.
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A dream come true
In June 1980, she married flight dispatcher Michael Middleton, whom she had met during their years at British Airways. The couple had three children: Kate in 1982, Pippa in 1983 and James in 1987. That year, Carole Middleton celebrated her daughter Kate's 5th birthday. On this occasion, the mother of the family struggled to find decorations worthy of the name. This setback gave her an idea: to create a party supply company, which she named Party Pieces. This decision allowed the Middletons – Michael to join the company – to make their fortune.
But also to send their three children to study at Marlborough College, a $54,525 a year, and to buy a $49.800 million mansion in Berkshire. Or to enroll Kate Middleton at Saint Andrews, the Scottish university where she will experience her first stirrings with Prince William. In 5, Carole Middleton saw her dream come true: her eldest daughter married the heir to the throne. The businesswoman was invited to multiple royal events, and became friends with Elizabeth II, who shared her love for her grandchildren.
A debt of £2.6 million
However, in June 2023, the dream turned into a nightmare. The Daily Mail revealed that the Middletons' company was bankrupt. According to the tabloid, the company has accumulated 2.6 million pounds (3.1 million euros) in debt. The business would have been hit hard by the vagaries of Brexit, inflation, and the global pandemic. He is said to have suffered 900,000 pounds (€1 million) in losses between 2021 and 2022. However, according to the report relayed by the Daily Mail, it is "unlikely" that creditors will ever recover what they are owed.
Worse still, some of them are crying "betrayal." "What hurt me the most was that I trusted her as the mother-in-law of the future king and she betrayed me," said a spokesman for one of the company's suppliers. This is absolutely unacceptable." A few months earlier, in March 2023, Carole Middleton turned to consultancy firm Interpath, a financial restructuring firm, in order to direct it on "strategic options", which "included a sale or the search for new investors", the Daily Telegraph revealed.
Party Pieces is said to have contacted a total of 175 potential buyers. Two months later, the company was placed under judicial supervision, before entering into a sale agreement with British millionaire James Sinclair. And this without any guarantee that the debts will one day be paid off. In October 2023, Carole Middleton explained on Instagram that the losses were part of a recovery strategy, as significant investments were made to conquer new markets in Europe, the United States and the Middle East.
"Carole accepts the fact that she was naïve"
But privately, the businesswoman is said to be "desperately sad," an unnamed source told the Daily Mail. "Carole is understandably upset and deeply disappointed by this situation," the witness said. Over the past five months, she's really been doing her best to find a buyer, who would not only move the business forward, but also honor any outstanding debts." However, the entrepreneur would not run away from these difficulties. "Carole believes in taking responsibility, and she accepts the fact that she was a little naïve to take a step back and trust someone else to run the business she nurtured for decades," the anonymous source continued. It's desperately sad to see the company sold out in this way."
Kate Middleton's Reputation
Especially since Carole Middleton is now at an impasse. It would be impossible for him to start a new business. And this, at the risk of further damaging his daughter's image. "The Windsors' name was slightly tarnished when Party Pieces collapsed due to all the money it owed its employees," a witness told the Express UK on November 5, 2023. According to the latter, it would therefore be "impossible" for the Palace to accept such a pattern repeated. "Members of the royal family are supposed to be an inspiration to hard-working people, not to those who seem to profit from what others lose," the witness said.
The Middleton couple is said to have given up on setting up a new business. "They were busy planning their next project, but they have now given up on any desire to start a company, in order to protect their daughter's reputation," the anonymous source said. Anything the Middletons do will inevitably fall on Kate, so it's best for her mom and dad to keep a low profile." Their son James also suffered bad luck in business. Over the course of his career, he launched five companies, many of which went bankrupt. Ella & Co, his last company, which markets dog food, suffered a big drop in assets in 2023. A curse that only Pippa and Kate Middleton have apparently escaped.