A spokesman said this week that they felt ‘betrayed’ by Mrs Middleton. ‘What hurt me the most was that I trusted her as the mother-in-law of the future King and she just betrayed me,’ the representative said. ‘It is absolutely unacceptable.’
In fairness to the folks who extended goods on credit & will now not get paid, the Middletons operated the company as a partnership & would have been personally liable for the co.s debts for well over 3 decades. & they appear to have the assets to cover the £2.6 million owed.…
But "Party Pieces" was an outfit with limited liability! Creditors should have known this and considered it thoroughly.
A spokesman said this week that ... but it's expensive so most businesses don't.
I agree that decreasing margins likely were eroding their profits, and the attempt to expand into the USA was ill advised, but even though the spin may be they were ‘stepping back’ in 2019, the reality is that when they changed the structure of the business & gave investors a share of the company they retained a majority share of the business & were two of the directors.The wedding was in Jordan not Saudi Arabia.
I think it is fair in one way to say the company debts are small time, especially to be front page news but still, to other small businesses who supplied them a couple of thousand pounds owed is the difference between profit and loss.
It seems to me that basically Carole and Michael semi retired in 2019 or just before, likely because with Amazon and various other rival companies popping up business wasn't once quite as easy as it once was and because they had reached an age where they wanted to be around for their grandchildren and enjoy life. Their big mistake IMO was not selling the business then and cutting their links with it. Instead they bought in investors and a CEO to do the day to day management Carole staying on as "brand ambassador" - tbh even this better publicised may have made the fall out now better. Making it clear carol was just the face not the CEO (I suspect they didn't do that because it would have seen them called out for cashing in blatantly on Carole's daughter being royal, what other small company would keep the former CEO on as "the face"). The problem is in doing so they handed over their reputation to others, trusting the company would be run well. The pandemic came, mixed with poor management and the company starts racking up debts. Carole and Michael who at this point own shares in the new company are effectively just share holders on of whom also works as brand ambassador but they get the flack for the debts while those who were actually running it don't. It was a foolish mistake of Carole's to personally be phoning anyone up promising anything about payments.
A lot of mistakes were made, but that is business. Most businesses do fail and they had 30 odd years of success. Their biggest mistake was not cashing in and selling up and cutting ties completely.
Many in the press are saying, the commercial success of "Party Pieces" allowed the Middletons to sent their kids to expensive schools - what, as we know, led to Kate's and Prince William's love, which was formed at St. Andrews University.
But somewhere into the back of my head I mean to remember, that an economically very successful ancestor of the Middletons has set up a fund, to finance an excellent education for coming generations. But I can't find anything about it right now - So, was that true?
James Middleton and his wife Alizée are expecting their first child
https://www.instagram.com/p/CuUvGfXIbKN/?hl=fr
The thing about this story that annoys me is that to large sum investors or bankers a company collapsing with £2.4 million of debt is not worth making headline news. If this family weren’t related to the royals nobody would even know about it.
It is unfortunate and not a great look I would agree but it has nothing to do with who their daughter happens to be married to. It only made the papers because of that.
Yeah, but the loss of money for the Middletons' creditors makes all persons in the surroundings of the Royal Family less credit worthy, because nobody from the Royal Family will come and ride to the rescue if something happens to the business interests of their "associates".
No one ever thought the royal family would bail out the businesses of associates and it was never a factor in anyone’s credit.
i found out about Kate Middleton on my other forums http://theinternetforums.co.uk/william/ you can register for FREE!
if you are member or not!
check it out!
Kate Middleton, Is She A Rich Girl
is she rich? because she must have money to be accept in the royal family?
Sara Boyce
Well the Middleton’s are upper middle class not only because they owned a business, but there were trusts set up by a relative of Michael Middleton’s who used it to pay for the fees. There are bursaries for potential students in public schools for students whose parents can’t afford the fees, but of course there was no need for that in Kate’s case. There is student loan/student finance for University to pay fees and living costs.Sorry I'm commenting on a very old post of yours, but I'm fairly new here and I'm just going through threads that are of interest to me.
I am from the US, and although the royals are highly reported on here, I don't know all the ins and outs of who they can or can't marry. I know enough about the Middletons to know that they have/had a successful party supply business, so she wasn't royal family rich, but she was well off compared to others. But even if her father worked in a factory and they lived in some small row house somewhere in England, she went to what I'm assuming was a good University, so she is smart. Even if her family wasn't rich, and the school was very expensive, I don't know how it works in the UK so maybe it is different there, but colleges and universities in the US are very expensive and most people's parents can't just write out a check and pay for it, but we have student loans. If you guys have anything similiar there, if she was smart enough to get in, and could get something equivalent to student loans here, she would still go and show any family that she is an educated person.
And his isn't back in the day where royals met at balls, or polo matches, or were introduced through other aristocratic familys who were in the loop with the family. They in a normal, genuine way, met at school, became friends, and found a real connection, where it was obvious after they were together at school and afterwards for as long as they were, that she wasn't just trying to get with him because he was Prince William. And if after all that, and he wanted to marry her, but she wasn't rich, there would be NO WAY Charles would allow anyone to put his son through what he went through by not letting him marry who he wanted, because his mother didn't allow him to marry who he wanted which ruined and wasted years of his life, and in turn ruined and wasted years of someone who was dragged into a situation she didn't realize she was being dragged into at the time, and that was Diana. And I think Queen Elizabeth wouldn't dare do that again after she realized her decision with Charles caused so much drama and headaches and bad press. If she denied William to marry anyone he wanted...the press would have dragged them.
Kate’s parents have been subjected to a poster campaign in their home village of Bucklebury following the collapse of their “Party Pieces” business.
No photos, but it is being reported that an enraged James has been seen pulling these posters down.
(James lives in the area.)
https://www.dailymail.co.uk/news/ar...gn-collapse-family-business-Party-Pieces.html