Carole Middleton, mother of the Princess of Wales and grandmother to the heir to the throne, has reportedly declared bankruptcy in the wake of the sale of her company Party Pieces.
The company reportedly owes nearly $3 million in back taxes.
The company was sold in part in 2023 to Teddy Tastic Bear Company Limited for £180,000.
Administrators of the company have stated, “Based on current estimates, it is uncertain whether there will be funds available to enable a distribution to preferential creditors. It is unlikely there will be funds available to enable a distribution to unsecured creditors.”
The report published by administrators also blames the COVID-19 pandemic on declining sales, which led to the company’s current cash issues.
The news prompts a related question: If his wife’s family’s business is doing so poorly, why isn’t Prince William stepping in to help out?
What is William supposed to do? Sounds like this article was written by someone jealous of Princess Catherine. (Someone named Megan)
What is William’s obligation? To bail out every one of his relatives who encounters financial difficulties? Pfft
If the business was in USA, it would qualify for Govt. Covid Relief/Employees Funding… guess she’ll just have to do bankruptcy…