Zoom Image
Carole and Michael Middleton in July 2022
Photograph:
Simon Stacpoole / Offside Sports Photography / IMAGO
Princess Kate's parents have to accept a defeat: their party decoration company had to be sold after insolvency.
Businessman James Sinclair has taken over Party Pieces Holding, Sky News and the PA news agency reported. The price was not initially named. Previously, a rescue had failed.
Carole Middleton, 68, and her husband Michael, 73, founded the company in 1987 when they were looking for inspiration for daughter Catherine, better known as Kate's fifth birthday. The couple has been married since 1980. The parents of the Princess of Wales are rarely seen in public. In addition to Kate, the couple has two children: daughter Pippa and son James.
Business had been "significantly affected" by the pandemic, it said. For example, the demand for party decorations and personalized gifts has fallen considerably. "Party Pieces is an established brand with a proud British heritage, but like many other businesses across the retail space, it has been hit hard by the impact of the pandemic and the resulting restrictions," said Will Wright of insolvency administrator Interpath.
kha/dpa