As of: April 4, 2024, 11:28 a.m
By: Susanne Kröber
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Carole and Michael Middleton are an important support during this difficult time for their daughter Kate, who is suffering from cancer. But after their bankruptcy, the Middletons' financial problems don't stop.
Bucklebury - Since Princess Kate (42) found out that she had cancer after her abdominal operation in January, nothing has been the same in her parents' lives. Carole (69) and Michael Middleton (74) are likely to be part of the close circle around Kate and Prince William (41), which was inaugurated immediately after the diagnosis. But even though the Middletons now need all their strength to support their daughter, they are still threatened with financial hardship.
After their company goes bankrupt: Princess Kate's parents are in debt
In 1987, Carole Middleton founded her company Party Pieces, a company that quickly made a name for itself by shipping party supplies. Two years later, Michael Middleton, who had previously worked as a flight dispatch consultant at British Airways, joined. The success story of Princess Kate's parents lasted 36 years, but the corona pandemic proved to be the nail in the coffin for "Party Pieces".
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After accumulating debts of 2.6 million pounds (around 3 million euros), “Party Pieces” had to file for bankruptcy in May 2023. A huge blow for Carole and Michael Middleton, who incurred the wrath of creditors after the bankruptcy. As
The Times
reports, Princess Kate's parents can no longer even pay the amount that the contracted company Interpath Advisory (IA) needs to handle the bankruptcy.
Expert on the Middletons' influence on Kate and William
In the documentary “Kate Middleton: Heir We Go Again,” royal biographer Katie Nicholl revealed how close the relationship is between the Middletons and Prince William and Princess Kate. “One thing that allows William and Kate to be so normal is the presence of the Middletons in their lives.” Carole Middleton would go in and out of the heir to the throne. “She comes to help with bedtime and bathing. It is absolutely essential.”
“Rock in the surf”: Carole Middleton is so indispensable for Kate, who is suffering from cancer
Specifically, this is currently an amount of 268,928 pounds (314,000 euros), as
Express
reports. Although around £51,000 has already been received in fees, Interpath Advisory is unable to pay the entire fee. Because Carole and Michael Middleton converted their business into a limited company in 2019, they are at least spared personal liability. This means they can continue to look after their grandchildren Prince George (10), Princess Charlotte (8) and Prince Louis (5) and Kate, who has cancer.
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While Princess Kate battles cancer, financial problems are putting additional strain on her parents Carole and Michael Middleton. (Photomontage) © picture alliance/dpa/PA Wire/Aaron Chown/Andrew Milligan
"She came to their aid, offered comfort and was a rock for Catherine and William as they dealt with the news," a family friend told
The Independent
about mom Carole Middleton's help for Princess Kate. “Carole is the driving force that holds the family together with minimal effort and maximum humility. She picks up and drops off George, Louis and Charlotte, drives them to school sporting events and offers them endless support.”
Sources used:
thetimes.co.uk, independent.co.uk, express.co.uk