As the parents of Kate Middleton, one might assume that the Middletons are rolling in cash but, sadly, that couldn’t be further from the truth. In April 2024, while their eldest daughter was fighting for her health amid her recent cancer diagnosis, Michael Middleton and Carole Middleton were suffering financially over a staggering debt they had accrued by way of insolvency costs they accrued through the sale of their business, The Party Pieces Company.

“Carole is desperately trying to keep Catherine fully focused on her recovery,” a source told Us Weekly about the financial fiasco. “It’s a very worrying time for the family but they are not looking for any assistance from their children and don’t want them to worry.” Unfortunately, it appears the Middletons’ money woes were a long time coming.

The Middletons’ financial problems first reared their ugly head when Carole opted to sell her 49% stake in their Party Pieces business to an investment firm. It’s rumored that she did so in an effort to semi-retire and ultimately spend more time with her family. Sadly, however, the COVID-19 pandemic wreaked havoc on the family party planning biz. Due to her stepping away, she wasn’t really aware of just how bad things were for the business until there was no coming back. As reported by the Daily Mail, at that point, Party Pieces was in debt to the tune of £2.6 million. No doubt a very sobering truth about Carole’s former multi-millon dollar business.

Initially, Michael Middleton and Carole Middleton opted to start the process of insolvency and basically declared bankruptcy, which is known as “administration” in the U.K. At that point, the couple hired Interpath Advisory, an insolvency firm, to help them, per the Daily Mail. In 2023, with the help of Interpath, the Middletons were able to sell their company to Partyman businessman James Sinclair. While some rushed to point to shady details about Carole as the reason for her financial downfall, Sinclair was quick to come to her defense. “I don’t think it’s Carole’s fault,” he told The Telegraph. “She sold half the business at 65 years old to an investment firm and in my view they ruined it.” 

Alas, selling off such a fledgling business proved to be costly. In the end, Michael and Carole racked up a £260,000 debt with Interpath. Per a progress report from Interpath, the process ultimately “[took] longer than anticipated” thus driving up advisory firm’s fees. However, Interpath was careful to note that it was not planning on “[drawing its] fees in full,” essentially giving the Middletons what we can only guess is a very welcome break.