Financial Fail of Kate Middleton’s Family amid Her Cancer Battle

Amid Catherine Middleton’s battle with cancer, her family faces the financial fallout of their business collapse. Catherine’s parents Carole and Michael Middleton, grapple with mounting debts and the aftermath of Party Pieces’ closure. Despite their struggles, Carole is focused on taking care of her daughter.

On March 22, 2024, Catherine Middleton, the Princess of Wales, disclosed in a video that she had begun undergoing cancer treatment. The diagnosis surfaced during post-operative assessments following her abdominal surgery in January 2024.

While Catherine undergoes cancer treatment, her family contends with significant debts they allegedly cannot settle. Carole and Michael Middleton, who are also parents to Pippa and James Middleton, face challenges covering over $329,000 in insolvency firm expenses for their struggling enterprise, The Party Pieces Company.

The company tasked with managing the insolvency of Carole’s business has recognized that the couple is unable to cover the full fees. The Party Pieces Company, established by the Middletons in 1987, entered administration in June 2024, leaving creditors with a debt of $3.28 million.

Party Pieces’ woes didn’t start now as in 2021, the company reportedly suffered a significant loss of over $316,000 due to the impact of the pandemic. Still, during the lockdowns, Carole and Michael received a taxpayer-backed loan from NatWest to support their company, which faced challenges due to restrictions on family gatherings.

The business proceeded to initiate a retail partnership in the US. An enthusiastic Carole had expressed that it was truly thrilling to witness the Party Pieces Collection’s expansion, beginning with Saker ShopRites, a prominent retailer in New Jersey. The family-owned business had a rich tradition of dedication to its customers and the communities it served.

Shortly thereafter, the outlook for the company became ambiguous when two of its three financial supporters, lingerie magnate Steven Bentwood and former head of Oxford United Football Club, Darryl Eales, relinquished their roles as directors. According to documents NatWest is also owed a balance of $278,146 due to the loan it gave Party Pieces during the lockdown.

Moreover, the COVID-19 loan acquired by Carole and Michael resulted in the taxpayer bearing a loss following the business’s demise. As per the provisions of the government’s COVID-19 business interruption loan scheme, the taxpayer is accountable for 80 percent of any outstanding balance owed to NatWest.

Before Party Pieces collapsed, the business enlisted consultancy Interpath to explore options, including a potential sale or seeking new investors. Unfortunately, the business eventually entered administration, accumulating over $3.16 million in debt.

Furthermore, this scenario led to Interpath’s team being incapable of recouping the entire fees for the services provided by its restructuring professionals, who were being paid $716 per hour. The company also incurred costs of $327,548.

According to a source, Carole was visibly distressed and profoundly disheartened by the situation at that time. The source mentioned that throughout the previous five months, she diligently endeavored to locate a purchaser who would not only advance the business but also fulfill any remaining financial debts.

The insider emphasized that Carole embraced accountability and acknowledged her own naivety in relinquishing control of the business she had nurtured for decades. Witnessing the company being sold off left her profoundly saddened.

The source revealed that in truth, Carole had distanced herself from the business over three years ago, entrusting the everyday operations to a new management team. Unfortunately, as the business took a downturn, she realized the situation too late.

In June of 2023, a report submitted to Companies House stated that due to the company’s cash flow difficulties and failure to find extra funding, redeeming the company was not feasible. Party Pieces has now been sold through a pre-pack administration deal to entrepreneur James Sinclair for $227,523.

Before marrying Prince William, Catherine worked as a project manager for Party Pieces. She concluded her tenure with the company prior to her wedding with the prince in 2011. At the time, a royal aide revealed that she had given her roles to colleagues and was getting ready for her future life.

Now, as the family grapples with their business challenges, Carole, who stood steadfastly by Catherine’s side during her cancer battle, is resolute in her determination to shield her daughter from concerns about their financial troubles.

According to a source, Carole is really trying to keep Catherine only focused on her recovery. It’s a hard time for the family but they are not begging for help from their children and don’t want them worried.

The source added that Catherine and her parents maintain a close bond, frequently checking in with each other. Still, talks about the business were absolutely off-limits, as Catherine needed to prioritize her health and well-being.

Royal commentator Afua Hagan also highlighted Carole’s efforts to shield her daughter from stress during her chemotherapy. She emphasized that despite the devastating impact of Party Pieces’ collapse on the family, Carole’s priority is undoubtedly her daughter’s well-being.

Author Christopher Andersen, renowned for his books on the royals, emphasized that no one in the royal family was embarrassed by Party Pieces’ failure. He cautioned against assuming the Middletons were financially destitute, noting their substantial personal assets despite the business collapse.

Regarding Party Pieces, Christopher explained that the business thrived until the pandemic struck, causing devastating effects. The market for their products plummeted, leaving the company in dire straits.

Christopher asserted that both Carole and her brother, Gary Goldsmith, a participant on “Celebrity Big Brother,” had amassed significant wealth. Carole’s party supply business prospered for many years until, like numerous other businesses, it was negatively impacted by the COVID-19 pandemic.

So, Christopher pointed out that for nearly two years, nobody gave children’s parties, and the lingering effects proved devastating. The entire market for what Party Pieces was selling went straight off the end of a cliff.

Christopher also suggested that amidst the royal family’s ongoing challenges, concerns about the Middletons’ financial setbacks were unlikely to be a priority. With the king’s cancer battle and Catherine’s diagnosis, their focus is understandably elsewhere. He underscored Carole’s dedication to supporting her daughter during this challenging time, highlighting their strong bond.

Christopher stressed the importance of recognizing that Carole was dedicated to supporting her daughter through what was an extremely challenging diagnosis. Princess Catherine had consistently relied heavily on her mother for emotional support and motivation, particularly at that moment.

As we previously reported on April 2, 2024, this is where Princess Catherine and her family are living during her cancer treatment

In the quaint embrace of Windsor’s Adelaide Cottage, Princess Catherine, along with Prince William and their three children—Prince George, Princess Charlotte, and Prince Louis—forge moments far removed from the public eye. Their move to the 200-year-old pink dwelling in 2022, a decision initially propelled by a desire for privacy, has now turned into a sanctuary for recovery as the Princess of Wales undergoes cancer treatment.

Nestled within the serene expanses of Windsor Home Park, the 655-acre estate offers a stark contrast to the family’s previous residence at Kensington Palace. The cottage’s charm, history, and “domestic” architecture underscore a lineage of royal occupants that traces back to its construction in 1831 as a summer retreat for Queen Adelaide.

With its picturesque grounds and close proximity to the Lambrook School—where the Wales children are students—and stables for their equestrian pursuits, Adelaide Cottage provides an ideal backdrop for the family’s endeavors towards a semblance of normal life amid trying times.

The public’s reaction to the family’s choice of residence during this challenging period has been overwhelmingly supportive, with people praising the move for its discretion and simplicity. One fan praised, “I think their move to Adelaide Cottage was a smart move. No servants live with [them]. No leaks.”

One comment from a social media user seemed to poke fun at the Prince and Princess’s living quarters: “So, the @RoyalFamily exiled the [Sussexes] to Frogmore. But, since they bring their star power everywhere they go… the place is now cool to live at… & of course, @KensingtonRoyal had to copy it because that’s all they know how to do 😂#MonkeySeeMonkeyDo.”

However, the majority leaned in favor of the residence with another fan stating, “The fact that Catherine & William were happy at the little cottage speaks volumes. They wanted their privacy together – a lot like now in Adelaide Cottage. I wish them both every happiness.”

Downsizing from the grandeur of Kensington Palace to a more intimate setting marked a significant lifestyle shift for the Prince and Princess of Wales. Despite the logistical adjustments, which included the relocation of their trusted nanny, Maria Borrallo, the Cambridges embraced this change, finding solace in Windsor’s tranquility.

The move not only brought them closer to nature and Princess Catherine’s parents but also signified a commitment to providing a grounded upbringing for their children away from the limelight.

With its narratives of architectural reuse and royal legacies, Adelaide Cottage encapsulates a blend of public heritage and private comfort. Its proximity to significant royal landmarks, including the nearby Frogmore Cottage and the main Windsor Castle, underscores the interconnectedness of royal residences while emphasizing the unique position of the home as a haven in the royal family’s real estate portfolio.

Before settling in Adelaide Cottage, Princess Catherine lived in a variety of homes that reflected her journey from an ordinary civilian to the Duchess of Cambridge with each residence marking a significant chapter in her life.

Bucklebury Manor—her childhood home—grounded her in a setting of familial warmth while St Salvator’s Hall was the place where she experienced university life, and where love blossomed between her and Prince William amid the hall’s gothic splendor.

Old Church Street in Chelsea served as her post-graduate haven—shared with her sister Pippa Middleton—offering a glimpse into her life before royal engagements took precedence. Her temporary abode at Bodorgan Hall on the Anglesey coast allowed for a private retreat while Prince William served with the RAF.

1A Kensington Palace, which boasted 20 rooms, signified her full embrace into the royal fold while Anmer Hall, a 10-bedroom Georgian mansion, was a gift from the late Queen Elizabeth II.

Aside from the vast past residences she has lived in, Adelaide Cottage emerges as a safe space for the beloved royal to undergo treatment as she bravely faces her health challenge.