Quote The Queen and the Duke of Edinburgh had lunch with Kate Middleton's parents today ahead of next week's much anticipated royal wedding.
It is believed to be the first time the monarch has met Michael and Carole Middleton, the future in-laws of Prince William.
Kate's parents, self-made millionaires thanks to their mail order business, were invited to Windsor Castle to have lunch with the royal couple.
A source described the gathering of the Middletons and the Queen and Duke as having a "warm atmosphere".
It is thought the lunch was a long-standing engagement in the diary of both the monarch and Kate's parents.
Also present were a small number of members of the Royal Household, thought to be private secretaries.
A Buckingham Palace spokeswoman confirmed the meeting, saying: "The Queen and the Duke of Edinburgh hosted Mr and Mrs Michael Middleton at a private lunch at Windsor Castle today."
Read more: http://www.mirror.co.uk/news/top-stories/2011/04/20/royal-wedding-kate-middleton-s-parents-meet-the-queen-for-the-first-time-115875-23074988/#ixzz1K4s6aFFm
Glad to see Philip looking so much better and happy with it! Carole looks gorgeous in all red!
Express.co.uk - Home of the Daily and Sunday Express | UK News :: Prince Philip's back on good form with Duchess of Cambridge's mum as Queen gets pay (http://www.express.co.uk/posts/view/328129/328129)
Here is more info
Carole and Pippa Middleton join the Queen at Buckingham Palace while Kate's on maternity leave | Mail Online (http://www.dailymail.co.uk/femail/article-2361304/Carole-Pippa-Middleton-join-Queen-Buckingham-Palace-Kates-maternity-leave.html?ito=feeds-newsxml)
A great cause. Well done to Mike and Carole Middleton.
Michael Middleton shows off his dad dancing as daughter Kate promoted Poppy Day | Mail Online (http://www.dailymail.co.uk/news/article-2492345/Michael-Middleton-shows-dad-dancing-daughter-Kate-promoted-Poppy-Day.html)
Carole Middleton on elegant form at fundraising gala - hellomagazine.com (http://www.hellomagazine.com/celebrities/2013110815550/carole-michael-middleton-fundraising-dinner/)
Double post auto-merged: November 09, 2013, 10:27:43 AM
QuoteAfter the Baptism Real, Carole Middleton confirms its elegance at a gala solidarity
http://translate.google.com.tr/translate?sl=es&tl=en&js=n&prev=_t&hl=tr&ie=UTF-8&u=http%3A%2F%2Fwww.hola.com%2Ffamosos%2F2013110868021%2Fmichael-carole-middleton-gala-benefica%2F&act=url
Double post auto-merged: November 09, 2013, 12:05:22 PM
QuoteCarole Middleton, example of elegance at a gala solidarity
http://translate.google.com.tr/translate?sl=es&tl=en&js=n&prev=_t&hl=tr&ie=UTF-8&u=http%3A%2F%2Fwww.hola.com%2Fnoticias-de-actualidad%2F09-11-2013%2F104224%2Ffamosos%2F&act=url
The event raised more than £240,000 for the British Red Cross.
Well done. Nice to see Michael Middleton enjoying himself - he really looks like a dear old soul.
Is this the first article we've had where it was Michael Middleton who was the focus? usually he's in the background.
Carole Middleton Joins the Baby London Team - Baby London (http://www.babylondon.co.uk/carole-middleton-joins-the-team/)
QuoteWe are super excited to announce that Carole Middleton has joined our team of contributing editors here at Baby London
Whether you?re about to welcome a new addition to your family, or already have a little one running around, our new contributing editor, Carole Middleton, will have you celebrating in style. Here?s a sneak peek of her first piece from our July/August issue where she shares her wealth of party-planning knowledge and suitably adorable ideas for your baby?s first birthday.
She's been writing for them for almost a year now having joined in Summer 2017.
I thought it was longer than a year since she's been writing little articles for them. I remember people saying she wrote pretty well exclusively about infant and children's parties and how to plan for them. A good opportunity to pop in mentions of Party Pieces.
Gender-reveal parties with Carole Middleton - Baby London (http://www.babylondon.co.uk/gender-reveal-parties-carole-middleton/)
Not necessarily!!!!
How Kate Middleton's mother Carole celebrated her 65th birthday - see photo | HELLO! (https://www.hellomagazine.com/royalty/2020013184067/carole-middleton-65th-birthday-celebrations-revealed/)
Kate Middleton's Mom Turns 65 with Office Birthday Party | PEOPLE.com | PEOPLE.com (https://people.com/royals/kate-middletons-mom-turns-65-see-how-her-coworkers-celebrated-with-an-office-birthday-party/)
She isn't very old to be a grandmother of four. She looks great for her age.
:bday4: :bdaycake:
Last year her birthday was celebrated at James and Pippa's home.
Happy Birthday Carole. :happy:
She just looks terrific. Did you all see the pictures of her at their island trip after Christmas?
Online purchases with PP is ongoing during the Covid19, they are experiencing late deliveries to their customers, just like every other business that is working during this difficult times.
Here's an apology from their new CEO
Quote
Party Pieces CEO Steven Bentwood said: 'We are all aware of the challenging circumstances currently being faced by businesses as we look at new ways of working within government guidelines, during the Covid 19 crisis.
'However, it is very important that we sincerely apologise to our amazing customers, some of whom were waiting for online orders and were experiencing delays in receiving replies to their enquiries.
'With factors outside of our control, our customer service team did their best to follow up and ensure all customers were fully informed and reassured, and all orders that were suffering delays are now up to date.'
I wonder what Michael and Carole are dedicating their day to day. I hope they are enjoying life, they've earned it.
Quote from: wannable on April 22, 2020, 01:06:43 AM
Online purchases with PP is ongoing during the Covid19, they are experiencing late deliveries to their customers, just like every other business that is working during this difficult times.
Here's an apology from their new CEO
I wonder what Michael and Carole are dedicating their day to day. I hope they are enjoying life, they've earned it.
I agree with you! I know that they are enjoying being close to their grandchildren. That is possibly one of the most important things one can do at their time of life.
Carole Middleton, the Duchess of Cambridge?s mum, has been helping NHS heroes through her company @partypieces!!
They delivered some wonderful goody bags for the children?s ward at their local hospital!
Fantastic! #NHSheroes @helpnhsheroes #DuchessofCambridge #DukeOfCambridge
Twitter (https://twitter.com/therumble9/status/1254017855651274753?s=21)
Very nice picture, the weather looks splendid, and good for PP donation to the sick children at hospital.
Kate Middleton's mum Carole makes kind gesture to NHS Heroes | HELLO! (https://www.hellomagazine.com/royalty/2020042588701/kate-middleton-mum-carole-middleton-delivers-goody-bags-nhs-heroes/)
QuoteThe Duchess of Cambridge's mum Carole Middleton made a kind gesture to NHS Heroes on Saturday, delivering goody bags from her company Party Pieces to her local hospital's children's ward. Kate's mum no doubt put plenty of smiles on a lot of faces with her parcels filled with toys. Sharing an image on her company's Instagram page of her unloading her car, Carole said: "Happy to help @nhsheroes with some toys for the children's ward." Royal fans were touched by Carole's thoughtful gifts, with one commenting: "This is just great. I love this family so much!" Another said: "What a wonderful thing to do." A third added: "I know my nursing friends are immensely appreciative of our local businesses helping them."
Terrific! Lovely to see the Middletons doing their part.
Quote from: PrincessOfPeace on April 26, 2020, 10:10:40 PM
Terrific! Lovely to see the Middletons doing their part.
I think charities and hospitals look to successful local businesses for donations and gifts. This is probably not the first time Party Pieces has been generous and it does say a lot about them.
Yes, a wonderful gesture at this time.
Kate Middleton's mother turns down interview publicity to avoid being 'insensitive' to Prince Philip | Daily Mail Online (https://www.dailymail.co.uk/news/article-9324515/Kate-Middletons-mother-turns-interview-publicity-avoid-insensitive-Prince-Philip.html)
QuoteKate Middleton's mother Carole has asked the publishers of Good Housekeeping magazine not to promote a cover interview with her over fears it will look 'insensitive' while Prince Philip is battling ill-health in hospital.
Carole Middleton, who runs party supply company Party Pieces, interviewed with the magazine in January but has reportedly asked its publishers not to promote it as Prince Philip, 99, is still in hospital.
Kate Middleton's mother turns down interview publicity to avoid being 'insensitive' to Prince Philip | Daily Mail Online (https://www.dailymail.co.uk/news/article-9324515/Kate-Middletons-mother-turns-interview-publicity-avoid-insensitive-Prince-Philip.html)
Mrs. Middleton is a girl of England.
God, Country, Family as we say here, well same for her in her country.
Magazines are ready to go weeks in advance unless something happens where they do a big change in time enough.
ok , to the point.
Ok, my point. Very classy of Carole. Good decision. She cannot promote the GH article, and GH cannot pull it right now, too late.
Her grandfather is not Prince Philip.
It's the April (spring) 2021 issue.
The magazine worked and concluded with Carole during January 2021 for the April issue, much before all the actual sorry state of PP and regretful Sussexgate.
She looks absolutely fabulous. Great genes.
Carole Middleton opens up about her passion for her business (https://www.goodhousekeeping.com/uk/lifestyle/amp35693403/carole-middleton/?__twitter_impression=true)
Carole confirmed Mike will *take a step back from the business*.
*I think he is delighted really. We were partners in life and in the business, which was great and it worked really well for us, but I think he feels this is the right time for a change.*
*He is in early 70s now and he can concentrate on other stuff. He is really supportive and quite excited to see what is going to happen*.
Kate Middleton's mother Carole confirms exciting news about husband Michael | HELLO! (https://ca.hellomagazine.com/royalty/20210306108331/kate-middleton-father-michael-retired-aged-71/?viewas=amp&__twitter_impression=true)
@Macrobug67 perhas in the Middleton Family Board you can place 3 pins: 1. Michael and Carole General Chat 2. Pippa Middleton 3. James Middleton. The news on them is not weekly but probably between 6 to 12 news/year.
Any other new thread will very likely be Uncle Gary stating Catherine should be Queen, like right now :D
I like Carole, a resourceful grandmother, and she does seem to carry out tons of activities with her grandchildren.
Quote
Carole Middleton is passing her love of gardening onto her grandchildren, and believes it's important for children to grow up 'appreciating nature' and 'get a bit muddy'.
The Duchess of Cambridge's mother, 66, who lives in Berkshire with husband Michael, told how Prince George, seven, Princess Charlotte, five, and Prince Louis, three, enjoy potting plants and picking her homegrown vegetables.
Speaking to Saga magazine for its May edition, businesswoman Carole said she makes sure she lays out 'activity stations' for each child to keep them engaged.
'If I'm doing planting with my grandchildren I like to have it all laid out at 'activity stations' with their own little trowel and pot so they can get started immediately,' she told the publication.
'It's no good calling children over to an activity, only for you then to have to fuss about looking for the right equipment and clearing a space. They'll soon lose interest and slope off.'
She added: 'It's important for children to grow up appreciating nature and part of that is allowing them to get a bit muddy.'
The grandmother-of-five told how she loves growing her own vegetables and became more dedicated to her patch during lockdown.
'Growing potatoes is a simple one to start with, and digging for spuds is fun at any age,' she explained.
'We also grow carrots, beetroot and onions and there's no better way to encourage healthy eating than to allow your grandchildren to see how food is grown and let them pick their own.'
Carole - also grandmother to Pippa Middleton's two children Arthur Matthews, two, and baby Grace - previously revealed she is 'very hands on' with her children's little ones.
Merci! I shall do that. Good idea. But it may be a few days. I am tackling Kate and Will right now. Which is one of Hercules 7 tasks. :wacko:
Discussion and articles about Carole and Mike. Included are Party Pieces chat.
The Duchess of Cambridge's parents Carole and Michael Middleton have two very special reasons to celebrate on Monday 21 June.
Firstly, the couple will mark their 41st wedding anniversary, one day after Father's Day.
41 years married, congratulations. (and Son in Law's birthday, Prince William)
(https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSC8FPss4P9vArMJdjfKbRmD1eISLZh-yMjDw&usqp=CAU)
One of the latest pictures of the couple, August 2019 Regatta. Previously, the couple went 4 times to Wimbledon 2019, so they might enjoy it again next week, royal enclosure.
(https://cdn.mos.cms.futurecdn.net/hGjSAPDdBCuxQeB7AbTgvg.jpg)
I like seeing the Cambridge kids with their grandparents- both sides. When they are with Carole and Mike there is some normality for them.
I do too. 41 years together is great. Because of last year's pandemic/40th milestone quarantine, and knowing the couple love tennis, I hope Kate can surprise them with several Wimbledon royal enclosure tickets. The main tickets for the public is like a lottery for starters 30% public and then growing for the next 2 weeks depending on government regulations.
Quote
MOTHER FIGURE How Prince William?s ?second mum? Carole Middleton ?protected? him ? while Prince Harry ?lacks? ?stable relationships?
SHE has provided a solid, stabilising foundation for Prince William and Kate Middleton since they married in 2011.
How Prince William?s ?second mum? Carole Middleton ?protected? him - while Prince Harry 'lacks' ?stable relationships? (https://www.thesun.co.uk/fabulous/15393417/prince-williams-second-mum-carole-middleton-harry-lacks-stable/)
A glowing (late mother's day) article about Carole Middleton by a half a dozen of Royal Reporters.
There is a lot to admire about her and more and more as time goes on. I also think Harry has a supportive mother-in-law. I've read he connected with her as soon as he met her, and she, too, seems to be an admirable person.
'I could only find a clown plate for Kate' (age 5): How Carole Middleton was inspired to start her Party Pieces business that built a family fortune - as she gives a rare insight into why she won't be slowing down at 66
How Carole Middleton was inspired to start her Party Pieces business that built a family fortune | Daily Mail Online (https://www.dailymail.co.uk/femail/article-10026331/How-Carole-Middleton-inspired-start-Party-Pieces-business-built-family-fortune.html)
(https://i.dailymail.co.uk/1s/2021/09/24/21/48354577-10026331-As_mother_to_the_future_Queen_Catherine_Duchess_of_Cambridge_and-a-44_1632513924135.jpg)
She is looking superb.
This DM article turned out to be more or less a promotion come photo-op for the Middletons? business Party Pieces, with accompanying pictures of Carole and products.
Agree. I'm glad Carole's business was able to keep 'afloat' despite the pandemic.
I do admire this woman, took an idea and ran with it and it became a thriving business to support the family and still grow to employ other people. And she has learned a very valuable lesson, keep the mouth shut when it comes to the royal family, so wish some would learn her work ethic and to keep the mouth shut period. Something very good to be said of someone who does that in life!
Quote from: Curryong on September 24, 2021, 11:45:10 PM
This DM article turned out to be more or less a promotion come photo-op for the Middletons? business Party Pieces, with accompanying pictures of Carole and products.
Which doesn't surprise me as Carole doesn't really share much about her personal and family life with the media.
Glad to see that Party Pieces has survived the lockdown.
Royal Albert Hall, Royal Variety Performance
(https://pbs.twimg.com/media/FEgAN6fWUAIH97I?format=jpg&name=small)
Balcony; left side from the Duke and Duchess of Cambridge is Carol, Mike, James and Alizee
(https://pbs.twimg.com/media/FEgAN6eXEA4Y1Bq?format=jpg&name=small)
Zoomed picture
Carole Middleton Decorates Home for George, Charlotte and Louis | PEOPLE.com (https://people.com/royals/carole-middleton-reveals-the-festive-item-that-george-charlotte-and-louis-will-be-enjoying-at-christmas/) :xmas12:
Quoteher November 29, 2021 11:50 AM
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Tweet
Prince William and Catherine Duchess of Cambridge Christmas card
Kate and William's 2020 Christmas Card
| Credit: Matt Porteous/The Duke and Duchess of Cambridge/Kensington Palace/PA/WPA Pool
Prince George, Princess Charlotte and Prince Louis will be greeted by some festive new friends when they visit their grandmother Carole Middleton this holiday season.
Kate Middleton's mother is decorating her home with Scandinavian-style festive gnomes to bring some seasonal joy into the lives of her young grandchildren.
"I'm going to need a few of these cheeky chaps this December, to hide around the house and make my grandchildren laugh," Carole, 66, posted on the Instagram page of her Party Pieces online alongside an image of two festive gnomes ? or "Tomte" as they're called in Sweden.
"As much as I love immaculate decorations, we can't be too serious at Christmas!" she added.
(https://pbs.twimg.com/media/FGGjEUiXoA0W_en?format=jpg&name=small)
Wabbey
A true family outing tonight with Mike, Carole, James, Alyzee, and Pippa in attendance for the carol concert. :xmas5:
Yes, this was very much a family affair with both William's and Catherine's family there to support them. It was long in coming and the right time I believe. :xmas2:
Carole and Michael Middleton so far are the only ones spotted in Norfolk.
I wonder if Pippa, James and Alizee are at St. Barts. The protocol 2021 is easier than when they went Dec. 2020.
Pippa and James did not attend the concert. I wonder if Kate, William, and other members of the family will join them this winter in St. Barts or some other warm spot.
Like so many entrepreneurs, Carole Middleton has had to navigate an unprecedented two years to ensure her business continues to go from strength to strength. Here, she talks exclusively to SheerLuxe about how Party Pieces began, the challenges she's faced along the way and how her family have helped her make it a success.
My Business Journey: Carole Middleton | SheerLuxe (https://sheerluxe.com/life/my-business-journey-carole-middleton)
To raise awareness of World Water Day next week (22nd March), Carole along with the Party Pieces team hit the beach for a coastal cleanup with Big Blue Ocean Cleanup:
https://www.instagram.com/p/CbK29MIPUJG/?utm_source=ig_web_copy_link
Today at Royal Ascot
(https://pbs.twimg.com/media/FVOD7ZsUsAEtlK6?format=jpg&name=small)
Wearing her daughter's dress, different size?
(https://pbs.twimg.com/media/FVOWCA7WYAAzKzx?format=jpg&name=small)
Just a huge NO for this dress on anyone......NO.... :no:
I have agreed with
@Nightowl says
Carole Middleton wear's Kate's dress to Royal Ascot | Daily Mail Online (https://www.dailymail.co.uk/femail/article-10915803/Carole-Middleton-wears-Kates-dress-Royal-Ascot.html)
Kate Middleton's mother Carole Middleton surprises as she wears same dress as daughter | HELLO! (https://www.hellomagazine.com/fashion/royal-style/20220614142915/kate-middleton-mum-carole-middleton-same-dress-royal-ascot/)
That dress is so bad, saw pictures of it and Carol needs better undergarments for sure and she was acting really loud .....LOL. Maybe she was having a fabulous time or had some sherry to drink.
Her horse won a race. $$$$$$
Carole Middleton Wears Daughter Kate Middleton's Dress to Royal Ascot | PEOPLE.com (https://people.com/royals/carole-middleton-wears-daughter-kate-middletons-memorable-pink-dress-to-royal-ascot/)
Carole Middleton wears daughter Kate's pink dress as she joins in-laws at Royal Ascot - Mirror Online (https://www.mirror.co.uk/news/uk-news/carole-middleton-wears-daughter-kates-27239451)
Kate's parents pay their respects to the Queen:
Carole and Michael Middleton join senior royals for the Committal Service at Windsor Castle after the Westminster Abbey funeral
Kate Middleton's parents Carole and Michael have arrived at Windsor Castle for the Committal Service
Princess of Wales' mother opted for sombre black mourning dress and a large hat with feather detailing
Earlier, the couple were among the 2,000 mourners at the Queen's funeral at Westminster Abbey
(https://i.dailymail.co.uk/1s/2022/09/19/15/62578451-11226727-image-a-18_1663597067241.jpg)
Party Pieces will be selling in the USA, they've partnered with
ShopRite Stores
@ShopRiteStores
There are more than 270 ShopRite supermarkets in NJ, NY, CT, DE, PA. and MD.
*****
(https://pbs.twimg.com/media/FfXgqaeWIAATv6l?format=jpg&name=small)
Carole with the family home business owners of ShopRite USA
(https://pbs.twimg.com/media/FfXgqadX0AIXZN0?format=jpg&name=small)
Princess Kate's mom Carole Middleton brings her party-goods business to NEW JERSEY | Daily Mail Online (https://www.dailymail.co.uk/news/article-11332969/Princess-Kates-mom-Carole-Middleton-brings-party-goods-business-NEW-JERSEY.html)
Carole Middleton Visits New Jersey ShopRites to Launch US Party Pieces (https://people.com/royals/carole-middleton-visits-new-jersey-shoprite-party-pieces-us-launch/)
Love the display behind her. This could be a big winner for Party Pieces.
Carole Middleton revealed about New Year's Eve Party with The Wales and gifts for the grandchildren
https://www.youtube.com/watch?v=2XxcE1gO3D4
:xmas14: :xmas14: :xmas14: :xmas14:
Wishing an early Happy 68th Birthday to Carole Middleton. :bday10: Her birthday is tomorrow January 31, but I wouldn't be surprised if the family celebrates on a weekend now that grandchildren are in school.
Kate Middleton's mother reveals she is throwing a party to celebrate turning 68 | Daily Mail Online (https://www.dailymail.co.uk/femail/article-11691935/Kate-Middletons-mother-reveals-throwing-party-celebrate-turning-68.html)
Kate Middleton's parents Carole and Michael Middleton sell Party Pieces business | Daily Mail Online (https://www.dailymail.co.uk/news/article-12098867/Kate-Middletons-parents-Carole-Michael-Middleton-sell-Party-Pieces-business.html)
Kate Middleton's Parents Sell Party Supply Business to Entrepreneur (https://people.com/royals/kate-middleton-parents-sell-party-supply-business-carole-middleton-built-scratch/)
Kate Middleton's parents Carole and Michael sell Party Pieces - details | HELLO! (https://www.hellomagazine.com/celebrities/493275/carole-middleton-michael-middleton-sell-party-pieces-company/)
Princess of Wales's parents' party supplies firm sold after brush with insolvency | Business News | Sky News (https://news.sky.com/story/princess-of-waless-parents-party-supplies-firm-sold-after-brush-with-insolvency-12883612)
Kate's parents Carole and Michael Middleton sell party supply firm after insolvency fears | Royal | News | Express.co.uk (https://www.express.co.uk/news/royal/1771867/kate-middleton-party-pieces-sold-carole-middleton)
Kate Middleton's parents' party supplies firm sold after struggling during Covid pandemic - Mirror Online (https://www.mirror.co.uk/news/royals/kate-middletons-parents-party-supplies-30013770)
Party Pieces, insolvent at the time, sold to entrepeuner.
Princess of Wales's parents' business Party Pieces saved as buyer found (https://www.telegraph.co.uk/news/2023/05/18/princess-of-wales-parents-party-business-saved-buyer-found/?li_source=LI&li_medium=liftigniter-rhr)
?The 12 staff at the Berkshire-based firm were told on Thursday about the buyout, which comes after months of speculation about the company?s future.
Party Pieces Holdings, the parent company of the firm that once employed the Princess, had racked up a deficit of ?1.35 million and the Middletons failed to find new investors or a buyer willing to take on the company with the entirety of the debt.
Instead, the firm was bought by Teddy Tastic Bear, one of several businesses owned by entrepreneur James Sinclair, through a device known as a pre-pack administration.?
Guide to Pre Pack Administration Process and Procedures (https://www.companyrescue.co.uk/guides-knowledge/what-is/pre-pack-administration-process-and-procedures/#:~:text=Pre%20pack%20administration%20is%20an),trade%20buyer%20or%20third%20party.
Well good luck to the new owner of Party Pieces.
Will the new owner change the name of the company?
Quote from: LouisFerdinand on May 18, 2023, 10:14:08 PM
Will the new owner change the name of the company?
Who knows. We will have to wait and see. However Party Pieces is a well known brand name so the new owner may well keep it.
I am sorry to see Party Pieces go after playing such an important role in the "Waity Katy" days which seem so long ago for royal watchers. More than a decade. So much has changed in that time.
Middleton family business Party Pieces still yet to pay back taxpayer-funded loan received amid coronavirus pandemic | Sky News Australia (https://www.skynews.com.au/world-news/global-affairs/middleton-family-business-party-pieces-still-yet-to-pay-back-taxpayerfunded-loan-received-amid-coronavirus-pandemic/news-story/5d3a210c6c7a58e6fc8fc88ed827c0d1)
British taxpayers are footing the bill for a coronavirus loan taken out by the Middleton family to support their business.
Carole and Michael Middleton received a taxpayer-backed loan from UK bank NatWest to support the company during the coronavirus pandemic.
The loan totalled ?220000, The Times of London has reported.
As the company has now entered an insolvency process, its loan still has ?220,000 outstanding, of which the taxpayer picks up 80 per cent.
The restrictions on social gatherings led to Party Pieces experiencing a massive drop in revenue ? going from ?4.5 million to ?3.2 million in 2022 ? which led to the company taking out the loan.
It's clickbate, in the UK people are allowed to sell with mortgage or tax debt, you sell it with all the good bad and ugly. The tax debt was sold together with Party Pieces to James Sinclair.
Quote from: wannable on May 29, 2023, 03:09:26 PM
It's clickbate, in the UK people are allowed to sell with mortgage or tax debt, you sell it with all the good bad and ugly. The tax debt was sold together with Party Pieces to James Sinclair.
It?s not exactly a great look to have the Prss of Wales parents facing bankruptcy for several years as they quite obviously were. Never happened to the Spencers!
A good chunk of the Middletons? money was tied up in Party Pieces. I very much doubt that Carole and Mike came out of this with huge amounts of cash. Not millionaires, even on paper, any more. And if James?s latest pet food venture goes belly up as former ventures of his have, then PP/his parents won?t be bailing him out,
Quote from: wannable on May 29, 2023, 03:09:26 PM
It's clickbate, in the UK people are allowed to sell with mortgage or tax debt, you sell it with all the good bad and ugly. The tax debt was sold together with Party Pieces to James Sinclair.
And I?m not so sure about this assertion of yours that Sinclair is going to take over all the debts including the govt loan.
From the article upthread I linked on the subject of Party Pieces going belly up.
?It?s understood the sale to Mr Sinclair did not include all Party Pieces? liabilities? end Quote.
Who are the Spencers? Are they involved with Party Pieces?
And Yes any UK citizen can sell/buy with a mortgage or tax debt. You just have to give that piece of debt to whom you own it once you sell/buy.
A dip from GBP 4.5Million to 3.5Million per year is not bankruptcy. They sold PP with vendor debt and government loan. There latest Financial statement by law in order to sell is dated
05 May 2023 Confirmation statement made on 30 April 2023 with no updates
View PDF Confirmation statement made on 30 April 2023 with no updates - link opens in a new window - 3 pages(3 pages)
In order to legally sell the business with what I call the good bad and ugly.
To make it simple, most of the people in the planet will purchase a 'used' home with the good bad and ugly of that property. If the owner has an active loan with a bank, the moneys of the seller will be divided between what the seller owns the bank, the rest belongs to the seller. Same with Carole and Micheal's business, although the past historical of PP in Company House, is majorly hers.
PP was earning 3.2 million in 2022. That in itself does not mean bankruptcy it is true. However, it all depends upon the company?s outgoings doesn?t it, and what debts were being held over from the year before.
There were huge signs that PP had been on the decline for years before Covid finally finished it off. The venture in the US didn?t pay off, Amazon and other carriers were cutting deep into previous profits for years. Carole was asking for extra time to pay from suppliers for at least two years before the sale. The Middletons had to get the loan from the govt to help it limp through the few months remaining before it was sold. It was an insolvent business at that time.
You?re not seriously suggesting I hope, that PP?s business was a thriving and healthy concern when Sinclair bought it, because it quite obviously wasn?t, for all sorts of reasons including the above. And I repeat, a large chunk of Middleton money was invested in their business. And I also repeat that if James?s dog food business does not do well, as several of his former short lived businesses have not, then he won?t be able to rely on mum and dad helping him out with any large loan.
And you know very well who the aristocratic Spencer family are, Peers for over three hundred years, and never bankrupt.
I didn't say it was thriving, but it wasn't declared officially and legally bankrupt as you suggested.
The Middleton's did very well with Party Pieces, founded 1992-2023.
Charles Spencer has had to sell family jewellery to break even, 2010 he sold a lot worth GBP 21Million, this past March 2023 he had to sell a few other pieces, still available, no buyers.
Quote
The 150-year-old Spencer-Churchill necklace is a family heirloom that illustrates the elite social connections of one of the most prominent English families to date. Some of the most notable names that are linked to this piece of jewelry, and the family that created it, include Queen Victoria, the Duke of Wellington, Winston Churchill, the Vanderbilts, and Princess Diana. Now, the piece is available for acquisition at Hancock's London
No, PP wasn?t officially bankrupt but it was as near to it as you can get without having it declared.
And Charles Spencer had to deal with death duties after his father died, the tax which has been like a lode stone around aristocratic family estates for generations. As for selling jewellery all aristo families have done that for years. There are few balls, virtually no tiara events any more, so they get rid of useless pieces. Running a large house and landed estate is very different from running a party supplies business, but the Spencers are still a very wealthy family.
Whereas I would guess, though I don?t know for sure, that Carole and Mike Middleton?s money is seriously depleted from what it was when Kate married, and has been that way for some time.
All of these people, the Middleton's and the Spencers are living very comfortably in mansions, a farmhouse, a stately home.
I don't know what to say about some people with no basis in social media belonging to the sussexsquad identified*, 'pushing' them into some kind of poordom situation, badful thinking.
Quote from: wannable on May 29, 2023, 09:54:21 PM
All of these people, the Middleton's and the Spencers are living very comfortably in mansions, a farmhouse, a stately home.
I don't know what to say about some people with no basis in social media belonging to the sussexsquad identified*, 'pushing' them into some kind of poordom situation, badful thinking.
I didn?t say the Middletons were desperately poor. I said, and believe, that a large portion of Carole and Mike?s money was tied up in the business, and that the family?s money is now depleted in consequence.
I?m not a member of the Sussex Squad nor do I follow their media. It?s been discussed on several forums that I?m on which discuss people in the public eye, both official and non official. On the big Royal Forum where I?m a member the Middletons situation was discussed and it was agreed that the Middletons would have been impacted. That forum is certainly not pro Sussex.
This Telegraph story mentions ?the brink of bankruptcy?. Is the Telegraph pro Sussex?
?Kate?s family suffers huge blow amid cash struggles
The Middleton business ? which at its height was worth around $50m ? has been sold on the brink of bankruptcy. SUBSCRIBE for full story.?
That is not the Telegraph, that's New Zealand and Australian news using their own clickbate big words. The latest Middleton/Party Pieces from The Telegraph said that they sold the company.
Princess of Wales's parents' party business saved as buyer found
By Gordon Rayner, Associate Editor
18 May 2023 ? 9:05 am
There is no 'depleted' in the wording of anyone. Almost bankrupcy is not bankrupt, it is when it is official and legally filed.
Princess of Wales's parents' business Party Pieces saved as buyer found (https://www.telegraph.co.uk/news/2023/05/18/princess-of-wales-parents-party-business-saved-buyer-found/)
^ He bought it with debt et all.
https://www.dailytelegraph.com.au/subscribe/news/1/?sourceCode=DTWEB_MRE170_a_GGL&dest=https%3A%2F%2Fwww.dailytelegraph.com.au%2Fentertainment%2Fcelebrity-life%2Froyals%2Fkate-middletons-family-business-sold-amid-cash-struggles%2Fnews-story%2Fef8384f1755e97e07ba49a2f217cf469&memtype=anonymous&mode=premium&v21=dynamic-low-control-score&V21spcbehaviour=append
?Depleted? is my own word. I didn?t say I got that from any newspaper but from information about PP and the Middletons that has appeared in media over the last couple of years. I don?t take most of my impressions of PP any situation from Aus or NZ news but from British sources.
If you wish to believe that the Middleton family finances haven?t suffered as a result of the PP struggles of the past three years at least or that a business that was a whisker away from administration was doing well before, then that?s up to you. I do know that the Middletons were looking for buyers for the business for about two years and that a couple of offers dropped out.
That's the Daily Telegraph from Australia.
The Middleton's had a business deal/partners 3, 2 left, 1 stayed, February 2023. The Advisory group they hired to find a buyer, March 2023. Party Pieces was sold, May 2023.
Too much ado about small businesses that are closing or in PP's case sold because of the Pandemic. They are actually lucky. More than 85% of small businesses closed for good worldwide due to the pandemic.
The rumoured amount money sold was GBP 29,780,000.00
The value GBP 50,000,000.00
Pandemic, the value lost almost half, 50 minus 20M = 30M...
Nobody knows how much PP was sold for, nor are we likely to know. Nor do we know what the Middletons were left with in the wash up. One thing is for certain.The Middletons are certainly not in that glowing position financially that the tabloids made them out to be in 2011, when they were supposedly some sort of financial geniuses/entrepreneurs according to the Fail and other tabloids, something I never believed.
They got hold of a good idea for selling party tatt through mail order when Kate was a child, made it a family business and then struggled after Amazon and other big carriers got into the market. The media vastly inflated the business?s true worth. Their overheads were high and they were reliant on suppliers, whom Carole was pleading with at the end.
Copy from The Times, (which is behind a paywall.)
The Princess of Wales?s parents took out a coronavirus loan for a children?s party business that will leave the taxpayer facing a loss after the business collapsed this month. Carole and Michael Middleton received a taxpayer-backed loan from NatWest to support the company when lockdowns prevented family gatherings.
Party Pieces, which they established in 1987, has now entered an insolvency process. The bank is owed a balance of ?220,000, according to documents seen by The Times. The taxpayer is liable to pay 80 per cent of any amount owed to NatWest under the terms of the government?s coronavirus business interruption loan scheme.
Party Pieces has now been sold through a so-called pre-pack administration deal to the entrepreneur James Sinclair for ?180,000. The sale proceeds will therefore not be sufficient to pay off the loan in full. The lending is unsecured and will not be given priority over other unsecured creditors such as trade suppliers.
It is understood that Carole Middleton stepped back from the day-to-day running of Party Pieces in 2019. She became a brand ambassador for the business and a new management team was put in place. She remained a director and returned to help run the company?s operations this year to help secure its future. The pandemic led to a decline in sales for Party Pieces that ultimately prompted the owners to call in advisers from the restructuring firm Interpath. Revenues fell from ?4.5 million to ?3.2 million in 2022, and the company made a net loss before tax of ?900,000.
In a report for creditors, the administrators said: ?Management attributed this to the Covid-19 pandemic resulting in reduced social gatherings and a reduction in discretionary spend due to the cost-of-living crisis. This caused constraints on the company?s cash flows. The company was both loss-making and under creditor pressure. In the absence of new funding or a solvent sale, the company was insolvent on a balance sheet and cash flow basis. The existing investors of the company had injected ad hoc funds to meet critical payments and no further funds were available from this source.?
Sinclair?s company Teddy Tastic Bear bought Party Pieces after Interpath approached 175 possible buyers. Interpath received one potentially solvent offer for Party Pieces but found it could not be delivered ?after significant effort?.
Party Pieces held discussions with creditors over its ?tightening liquidity position? but found that there would be no support available to ?defer or deal with the highest-pressure creditors?.
That is more like it.
220K is nothing
1.3 vendor debt is easy
As I said
A bit of perspective. A valuation of PP 20 years ago at 30M, the Australian daily telegraph puts at at 50M to date, do the negative maths, result.
If they move from mansion to grade lll then depleted.
Quote from: wannable on May 29, 2023, 11:30:01 PM
That is more like it.
220K is nothing
1.3 vendor debt is easy
As I said
A bit of perspective. A valuation of PP 20 years ago at 30M, the Australian daily telegraph puts at at 50M to date, do the negative maths, result.
If they move from mansion to grade lll then depleted.
Well, if you think a net loss before tax of 900,000 pounds is fine, that the business was sold for 180,000 pounds to Sinclair and a bald statement in the article that the company was ?insolvent on a balance sheet and cash flow basis? is great, and that taxpayers will probably be kept waiting to be paid for an unsecured loan, is absolutely fine, then everything in the Middleton bank vaults are no doubt filled with gold nuggets from the Harry Potter Gringotts bank!
It doesn?t matter. The Middleton have always paid their taxes, both are retirement age, they are fine with selling PP, 💯 dedication to their grandchildren.
James Sinclair will do fine with the business. He is perfect buyer. Children friendly.
He purchased it with absolutely all the good bad and ugly. Read the telegraph article I posted. It is peanuts 1.3m vendor debt plus 220k taxpayer loan is nothing. If Carole had asked taxpayer loan of 34m wedding fund and jumped country okay we have a problem.
To be clear and blunt, the Middleton selling their PP is a 'filler', IOW when the digital or press editor fills in the boxes from front page to back, Carole and Mike PP is a small square at the bottom, to bigger ex royal news brewing, moneys owed in the UK, only UK. Partly because of the economy and a 34M, we see Charles giving away the 250M profit of DOL windfarm and 'gracious acts' like this will still happen. He is a father, he is worried about 6 court tax funded expenses, the UK side, not the other side of the pond expenses. He will contain it IF the ex royal doesn't comply with UK Law. Something the Middleton's have always complied with, if not we would have heard about any illegality taxpayer or tax payment cheating, they've been in the eye of the public for the same amount of time as their daughter Kate. This is IMO based on my friend that works in Fleet Street and hears everything big and small royal related.
Quote from: wannable on May 30, 2023, 10:50:42 AM
It doesn?t matter. The Middleton have always paid their taxes, both are retirement age, they are fine with selling PP, 💯 dedication to their grandchildren.
James Sinclair will do fine with the business. He is perfect buyer. Children friendly.
He purchased it with absolutely all the good bad and ugly. Read the telegraph article I posted. It is peanuts 1.3m vendor debt plus 220k taxpayer loan is nothing. If Carole had asked taxpayer loan of 34m wedding fund and jumped country okay we have a problem.
It?s too bad the Middletons have integrity. They could have sold pictures and stories about William and Kate: the early years to a publisher and made a killing! 😂 But in all seriousness, you?re right, they?re tax payers just like everyone else, only with the quaint fact of having their daughter be the Princess of Wales. If the company didn?t qualify for the loan and they suddenly received it because of their connections, now that would be another kettle of fish.
It would be another kettle of fish, but the point is the parent's have been in the public eye since Kate was age 20 (20 years and counting), the media couldn't find anything terrible about the family, so here we are distracted because they sold the business at past retiring age. Now, half of the grandparenting will be 'public' so to speak with George, Charlotte and Louis (any person in the public catching them a glimpse will notify the media), so it really isn't relax mode, like it will be with the Mathews children and future Middleton (James, Alizee) children.
Just comes with the territory. I?m sure at this point, they?re likely used to the scrutiny and let it roll off their backs. No use in trying to fight it.
They never fought it. Nothing to hide, confidence, on their own business, were reported yearly about 6 times/12 months, not bad at all.
The media want's something to happen or not?! Little square bottom right corner. :teehee:
In this short video James and Pippa Mathews and Carole Middleton leaving the Jordan 2nd reception party.
https://twitter.com/i/status/1664321979476852745
Credit/Source: to twitter user Royal Watcher, @royalnewsss, whom captured it during the Jordan TV live feed.
The Middleton's lived in Jordan for a few years 30plus years ago.
(Perhaps the entire family is there for holidays :wink: )
The DM speaks to some of the Middletons? creditors after Party Pieces collapse.
Creditors hit out at Carole Middleton after her party business collapsed with debts of ?2.6million | Daily Mail Online (https://www.dailymail.co.uk/news/article-12179401/Creditors-hit-Carole-Middleton-party-business-collapsed-debts-2-6million.html)
?What no one ever really knew, however, was the exact amount of money the family business was making. Run for years as a privately owned partnership, it never had to file full accounts at Companies House.?
Take, for example, Sultani Gas, a Kent-based company that supplied Party Pieces with helium for its balloons. It?s currently owed ?20,430, according to the administrator?s report.
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.?
Take also the firm?s landlord, Lord Iliffe, on whose Yattendon estate the company has been based for many years.
The estate is out of pocket to the tune of ?57,480 and James Hole, the agent for Iliffe, said it now faces ?severe financial consequences?, adding: ?They have been long-term tenants. We were astonished about the amount of money owed to others.?
A lot of businesses went under after COVID, despite the government?s help. It?s not exactly a unique story, but I get the picture. Daughter is a royal, so the story has to be blown up. That line about the future mother-in-law of a king cracked me up a little though. What would that have to do with anything?
More than 1,400 firms went bust last month in England and Wales, figures show | Business | The Guardian (https://amp.theguardian.com/business/2021/oct/15/more-than-1400-firms-went-bust-last-month-in-england-and-wales-figures-show)
All small socialization related businesses busted with almost zero sales.
This year and next year we will see a lot of mid and big companies merging and with heavy personnel reduction.
Quote from: HistoryGirl2 on June 10, 2023, 12:59:31 PM
A lot of businesses went under after COVID, despite the government?s help. It?s not exactly a unique story, but I get the picture. Daughter is a royal, so the story has to be blown up. That line about the future mother-in-law of a king cracked me up a little though. What would that have to do with anything?
It means that the helium business owner was struggling with exactly the same conditions through Covid etc that Party Pieces was, thought that PP would never go down because of royal connections, offered credit when Carole asked for it and at the end was stuck with an over 20 thousand pound bill that her business can ill afford to carry. The same as all the other suppliers left with debts they have to cope with. That?s what it means.
And for once in a DM story these were real, named people speaking. And hurting. Or are all these business owners supposed to laugh and wave off the large debts they now carry because the persons leaving them in a hole happen to be Kate?s parents? Don?t think so!
^I?m able to comprehend; it is, after all, written in plain English. As I?m also able to comprehend that they are not the only people that lost money during this time. A whole lot of other businesses went under. The reason this is news isn?t because it?s unique. It?s because it?s a Middleton involved. Fair play. The game is what the game is. However, her being the future King?s mother-in-law has nothing to do with her business. William doesn?t cover her debts. It?s a stupid comment to make, but it got the headline, so good on them.
If she?s done something illegal, then charge her. But a party supply business going under after COVID isn?t exactly newsworthy but for the fact that Carole Middleton is involved.
Everybody knew and knows who Carole Middleton was. If she didn?t overtly trade off her royal connections she certainly got a lot of business from it in the good times. And has left people in the lurch because of it.
It also became known that one of James Middleton?s many business ventures was assisted with a large loan from his very wealthy businessman brother in law James Matthews at one stage. How do we know that he didn?t help the Middletons out at any time? And if William had his hands on the Duchy money before the business crashed he might well have done the same.
However PP did crash and it left a lot of suppliers and a landlord in trouble. I don?t see why Carole and Mike should get a pass for their behaviour, but that?s just me.
^I?m unsure what you mean by ?getting a pass.? I ask again, have they done something illegal? This literally happens all the time. All the time. Businesses go under and yes, people are left in the lurch because of it. But how do you suggest they ?be held accountable?? I don?t see that anything that?s been done is illegal. It?s also not great to lose your business, but that happened to the Middletons.
If you claim that William did loan her money, I?d like to see sources for that, please. If your only evidence for that is that William is related to them, I?d like to throw in that not everyone has a habit of taking advantage of their famous relatives to make a quick buck.
I stated in my last post
?It also became known that one of James Middleton?s many business ventures was assisted with a large loan from his very wealthy businessman brother in law James Matthews at one stage. How do we know that he didn?t help the Middletons out at any time? And if William had his hands on the Duchy money before the business crashed he might well have done the same?. End quote.
I didn?t suggest that William did lend or give the Middletons money, simply that if he had had Duchy money when their business was on its last legs he could have done so. However he wasn?t POW before last Sept so all those many millions weren?t at his disposal at the time the PP business was going under.
And James Matthews did give a substantial loan to his brother in law James for his marshmallow business which was sold quite soon afterwards, and he is related by marriage to him is he not. And the loan in the form of shares in the business ocertainly wasn?t given because of James Middleton?s business acumen because he hasn?t shown much of that so far.
Just in case you think I?m making things up in any harsh way about James Middleton and his business affairs this is what we know (from Wiki)
In April 2011, James Middleton registered three businesses: Nice Cakes, Nice Wine, and Nice Group London and planned to expand the Cake Kit Company.[20][23] The Cake Kit Company dissolved in 2015.[25]
In 2013, Middleton founded Boomf, a company that makes personalised marshmallows and greeting cards.[26][27] In 2015, the company raised ?700 in funding, and was valued at ?10m.[28] Boomf made a loss of ?3 million between 2015 and 2018.[29] Middleton's brother-in-law, hedge fund manager James Matthews paid Middleton ?110,000 for 12,800 Boomf shares.[30] In 2019, Middleton announced that the company had reached profitability with an income of ?176,000 in the previous year.[31] Boomf raised $1m of funding in 2021, with plans to expand its product range.[32] The company was sold later that year. In May 2020, Middleton launched Ella & Co, a mail order dog food company that offers freeze-dried, raw, organic dog food.[33]
As regards Boomf it was reported at the time that ?a group of friends? (who we don?t know) were helping Boomf out with cash. It was sold shortly afterwards.
James Middleton gets ?800k to save Boomf writes SEBASTIAN SHAKESPEARE | Daily Mail Online (https://www.dailymail.co.uk/news/article-3318102/SEBASTIAN-SHAKESPEARE-James-Middleton-gets-800-000-bail-friends-save-marshmallow-business.html)
?Many feared James Middleton had bitten off more than he could chew when his marshmallow business racked up a ?250k loss.
Luckily, the Duchess of Cambridge?s younger brother has pals with deep pockets and an appetite for risk.
The serial cake entrepreneur has raised ?800,000 from ?friends of friends? to bail out his Boomf enterprise, despite having two cake companies and one wine company struck off the Companies House register earlier this year.?
Quote from above DM article.
^I still don?t see how that relates to William?the future king?? Neither of that relates to this topic, which is about Carole Middleton and her company, not James Middleton or his business ventures. But if you?d like to discuss that, I do believe Matthews? job was in investing, which is what he did then?invest. Sometimes it works out, sometimes it doesn?t. But that is his literal job, unlike William.
Quote from: HistoryGirl2 on June 10, 2023, 10:22:44 PM
^I still don?t see how that relates to William?the future king?? Neither of that relates to this topic, which is about Carole Middleton and her company.
No doubt she thought in an obviously naive fashion that the Middletons are related to royalty so their business will be all right. It won?t go under. Well she was wrong and paid for it with an over 20,000 pound debt.
And apparently this one sentence quoted is going to be held against this person, while with the Middletons it?s ?Oh yes well lots of businesses went under in the last two years?. Yes many have. And most, I would suggest, did not go under with an over 2 million pound debt owed to creditors, including to the Govt.
Plenty of businesses went under even though they received COVID loans have been on the news consistently. I posted an article about it a few posts up.
You can continue to say what you?d like about the Middletons and pretend this is unique. I?m simply pointing out reality and the fact that this is not the case.
I actually commend them for not mooching off their daughter. Their business has absolutely nothing to do with the RF and it would be beyond inappropriate if it did. *That* I would personally balk at. But ?company takes out COVID loan and still goes under? isn?t really unique to me, but maybe I?ve just been following it closer.
So all their creditors, most of them probably hanging on desperately themselves, can go hang and just absorb the Middleton debts they?ve been left with. I see! How remarkably forgiving so long as you?re not the one responsible now for a 20,000 millstone round your neck you got through trusting people. .
And I stated in my post that I know that a lot of businesses have gone under in the past couple of years. Not all however have gone under with debts of over two million pounds.
^Could you please provide the data for this? Is there data for the amount of debt each business that went under during COVID had? If so, I?d actually be quite interested.
And I don?t think I?m suggesting that it?s honky dory to lose money. I?m stating that this is something that?s happened to quite a number of people after COVID?the difference is those people?s stories aren?t in the papers. Why? Because the owners weren?t related to royalty. I feel as bad for them as I do for everyone else that was in that exact same situation.
Beyond that, I fail to see what should be done. Again, I state if there are illegalities, then they should be charged. Otherwise, I see nothing unique.
It?s probably out there though I haven?t found much.
Impacts of the Covid-19 crisis: evidence from 2 million UK SMEs | Bank of England (https://www.bankofengland.co.uk/working-paper/2021/impacts-of-the-covid-19-crisis-evidence-from-2-million-uk-smes)
I have anecdotal evidence of several small to medium sized businesses going under in 2022, and they were mostly in hospitality. They went under with totals of around the 100,000 pound mark, some less.
There's absolutely nothing illegal. Party Pieces is a limited liability company, meaning Carole and Mike aren't personally libel for loses. Most companies are structured this way.
They made a go of it for what, 30 years? Paid taxes and employed local people. They have nothing to be ashamed of. It's the old story of some people thinking Carole got too uppity and above her 'station'. If she had only stayed as an airline hostess or lived off of government welfare things would have been okay.
Quote from: PrincessOfPeace on June 10, 2023, 11:04:05 PM
There's absolutely nothing illegal. Party Pieces is a limited liability company, meaning Carole and Mike aren't personally libel for loses. Most companies are structured this way.
I would have thought this was common knowledge, but I guess anything to blow things out of proportion.
Until evidence is provided that this is outside of the norm, I?ll stick with my conclusion that this falls in line with what?s sadly become commonplace post-COVID. Mother-in-law of the future king being the clickbait. It obviously worked 😂 Them?s the rules when you?re tangentially connected to the royals. Oh, well.
Quote from: PrincessOfPeace on June 10, 2023, 11:04:05 PM
There's absolutely nothing illegal. Party Pieces is a limited liability company, meaning Carole and Mike aren't personally libel for loses. Most companies are structured this way.
They made a go of it for what, 30 years? Paid taxes and employed local people. They have nothing to be ashamed of. It's the old story of some people thinking Carole got too uppity and above her 'station'. If she had only stayed as an airline hostess or lived off of government welfare things would have been okay.
Nobody is saying that there was anything illegal done. Whether it?s discreditable or indeed immoral to continue trading when you know your company is on the brink of insolvency is another matter. Especially when it means asking for credit and longer time to pay when you know there is no possibility that you can pay.
And doing it to other medium firms that are supplying you with items in good faith and are under strain themselves, is, imo, absolutely nothing to be proud of. Especially when, at the end, Carole was refusing to take calls from people PP owed money to for services rendered.
^She was replying to my comment about illegalities. I?m curious, are you implying that the Middletons purposely drove their business into the ground to screw these people over? I think the overwhelming majority of people put money into businesses in good faith. I wasn?t aware that this somehow means that it?ll work out in your favor. And if they do believe that, I?d brush up on my rules of capitalism.
Also, you state that they knew they?d not be able to pay. Where exactly did you find this information? How do you know they knew it would fail? If you have no evidence of this, I?d like to throw out my own idea of what might have happened: they asked for a loan thinking it would get them by and they?d be able to turn things around?and then they couldn?t?like millions of others businesses throughout time.
Additionally, that article stated that Carole no longer did the day to day running of the business?for years, actually. So, I?d imagine the calls needed to be forwarded to the current management.
It wasn't Carole's hand on the tiller. There was basically a board of directors in place. You can call the Middleton's immoral if you like but I see nothing but a hard working family. If they were out to do shady dealings, it would have been discovered long ago.
No, I?m not implying that they deliberately drove their business into the ground. However, I do believe that the business was in trouble for quite a long time (Amazon etc) in serious trouble for some time before Covid really bit (but they continued trading) and were on the brink of insolvency for some time as they tried to find buyers to take the business on (and during this time they were asking for credit and slow in paying bills etc.) It was at this point that I believe they should have stopped trading, months before they did, in fact.
Kate Middleton's parents Carole and Michael Middleton sell Party Pieces business | Daily Mail Online (https://www.dailymail.co.uk/news/article-12098867/Kate-Middletons-parents-Carole-Michael-Middleton-sell-Party-Pieces-business.html)
Sources said that the sale had been carried out through what is known as a pre-pack administration, meaning that the firm had appointed insolvency practitioners before it was sold without some of its liabilities. End quote.
Interpath Advisory was reportedly appointed as administrator in court this morning.
The firm's sales are said to have been heavily impacted by the pandemic, leading to losses in the last financial year for which accounts have been filed.
The Middletons appointed ??advisers?. And Carole went over to the US to spruik her goods over there while at the same time PPs were fending off people they owed money to.
^So, you?re saying they should have just given up just because it might have ended badly. Yeah?from a business standpoint, that?s terrible advice. Unless, a crystal ball was at their disposal. Hindsight is always 20/20, but I guess everyone?s a business savant *after* the fact.
And you might think she was trying to defraud people while going over to the US to ?hock? her good. And another perspective on that is that she was trying to find another source of income to expand her business and help save it.
Quote from: HistoryGirl2 on June 10, 2023, 11:52:12 PM
^So, you?re saying they should have just given up just because it might have ended badly. Yeah?from a business standpoint, that?s terrible advice. Unless, a crystal ball was at their disposal.
They knew what position they were in and knew months before.
This is a piece from the Times of late May this year I posted here.
Copy from The Times, (which is behind a paywall.)
The Princess of Wales?s parents took out a coronavirus loan for a children?s party business that will leave the taxpayer facing a loss after the business collapsed this month. Carole and Michael Middleton received a taxpayer-backed loan from NatWest to support the company when lockdowns prevented family gatherings.
Party Pieces, which they established in 1987, has now entered an insolvency process. The bank is owed a balance of ?220,000, according to documents seen by The Times. The taxpayer is liable to pay 80 per cent of any amount owed to NatWest under the terms of the government?s coronavirus business interruption loan scheme.
Party Pieces has now been sold through a so-called pre-pack administration deal to the entrepreneur James Sinclair for ?180,000. The sale proceeds will therefore not be sufficient to pay off the loan in full. The lending is unsecured and will not be given priority over other unsecured creditors such as trade suppliers.
It is understood that Carole Middleton stepped back from the day-to-day running of Party Pieces in 2019. She became a brand ambassador for the business and a new management team was put in place. She remained a director and returned to help run the company?s operations this year to help secure its future. The pandemic led to a decline in sales for Party Pieces that ultimately prompted the owners to call in advisers from the restructuring firm Interpath. Revenues fell from ?4.5 million to ?3.2 million in 2022, and the company made a net loss before tax of ?900,000.
In a report for creditors, the administrators said: ?Management attributed this to the Covid-19 pandemic resulting in reduced social gatherings and a reduction in discretionary spend due to the cost-of-living crisis. This caused constraints on the company?s cash flows. The company was both loss-making and under creditor pressure. In the absence of new funding or a solvent sale, the company was insolvent on a balance sheet and cash flow basis. The existing investors of the company had injected ad hoc funds to meet critical payments and no further funds were available from this source.?
Sinclair?s company Teddy Tastic Bear bought Party Pieces after Interpath approached 175 possible buyers. Interpath received one potentially solvent offer for Party Pieces but found it could not be delivered ?after significant effort?.
Party Pieces held discussions with creditors over its ?tightening liquidity position? but found that there would be no support available to ?defer or deal with the highest-pressure creditors?.
^So, you?re saying that if they?d done it a few months before, they wouldn?t have owed anything? Because based on that article you posted, I fail to see how that would be the case.
No I?m not saying that. But if they had folded six months before they did then all the debts they accrued in the last six months of when they were trading knowing they were virtually insolvent would have been absent.
A quote from the above
In a report for creditors, the administrators said: ?Management attributed this to the Covid-19 pandemic resulting in reduced social gatherings and a reduction in discretionary spend due to the cost-of-living crisis. This caused constraints on the company?s cash flows. The company was both loss-making and under creditor pressure.
In the absence of new funding or a solvent sale, the company was insolvent on a balance sheet and cash flow basis.
The existing investors of the company had injected ad hoc funds to meet critical payments and no further funds were available from this source.?
In other words Carole and Mike were still trading and more importantly asking for credit/time to pay at a time when they knew they were insolvent and unlikely to be able to pay creditors/suppliers. But I guess that doesn?t matter!
So, because you think it?s wrong, they should have just given up on their business they?ve had since 1987? And again, if they had, could you please provide evidence that this would have led to the result where they owed no creditors anything.
It?s not that it ?doesn?t matter? as you state. It?s that a lot of people have businesses collapse. It?s sad and there?s people that lose out every single time. It?s that it is not unique or nefarious.
When did I say ever in my posts that ceasing trading six months before would have meant they owed their creditors nothing?
What I AM saying is that in those last six months of PPs existence the Middletons knew that the business was virtually insolvent and therefore imo they should have faced reality and brought administrators in (which they had to do in the end, anyway.) At the very least that would have saved their creditors six months of pain.
Quote from: Curryong on June 11, 2023, 12:09:41 AM
When did I say ever in my posts that ceasing trading six months before would have meant they owed their creditors nothing?
What I AM saying is that in those last six months of PPs existence the Middletons knew that the business was virtually insolvent and therefore imo they should have faced reality and brought administrators in (which they had to do in the end, anyway.) At the very least that would have saved their creditors six months of pain.
You?re stating it right there. If the result would have been the same, what difference would it have made if they were brought in one week or the next? What ?pain? would they have saved? It sucks regardless. COVID kinda took the wind out of the sails of quite a few businesses. They attempted to save their business, they failed. The critiques would have come regardless. It?s the cost of having a daughter that fell in love and married a prince.
Maybe they never should have started the business to begin with, what with knowing it could fail circa 2023.
The pain would have been to those creditors who, for those last six months the Middletons were still trading in an insolvent condition, were being paid very tardily, or not at all, or being pressed to extend credit. The Middletons could have saved those business suppliers the pain and expense of extra debt during those six months by pulling the pin earlier than they did..
Your sympathy is with the Middletons, a couple who are being exposed to some humiliation by newspapers reporting on their business failure. My sympathies are with those who are left holding a hefty baby in the form of debt in the thousands to their businesses that they did not want or deserve.
My sympathies are really with no one in particular. I don?t know any of these people from Adam. My allegiance is to statements of fact. The main one here being what I?ve been saying all along: this isn?t a unique story, especially post-COVID, and the reason this is being highlighted is because of the connection to the RF, even though it doesn?t relate to them at all.
Sentimentalities are the reason why. Plenty of people dislike the Middletons, mainly because they dislike Kate, and some only dislike Kate because they dislike William. This is on full display and it tends to cloud logic. Luckily for me, I?m not afflicted with either a love or hate of anyone involved. You can think I?m incorrect in logic, but please don?t confuse that with my ?sympathy,? as it implies that my argument is based on emotion when it most certainly is not.
36 year old business, she trusted the American investors, usually she'd have to invest too. Out of 3, 2 suddenly departed, but the most important part was the pandemic, which all small companies busted. Except Sweden.
Why Pippa and Carole Middleton were rejected from Wimbledon's VIP area | Royal | News | Express.co.uk (https://www.express.co.uk/news/royal/1785907/pippa-carole-middleton-wimbledon-royal-box-spt)
Kate Middleton's mum and sister were 'banned from Wimbledon's royal box' after blunder - Mirror Online (https://www.mirror.co.uk/news/royals/kate-middletons-mum-sister-were-30377296)
That explained from article I understand what Catherine,Princess of Wales says on her dad Michael Middleton watch former British number one tennis player Tim Henman and she said ?My father is not going to appreciate this, but we were walking past Tim Henman and we had just seen [Pete] Sampras play my dad said very coolly: 'Hi Pete' "I was mortified!"
Kate will not seat with parents and siblings in the royal box anymore according to former Wimbledon reporter and host Sue Barker
It must be a slow news day. The parents and siblings of the POW have sat at the royal box and other non royal box too. It seems to me they choose and notify their daughter which ''match'' they'd prefer to be at a royal box = the match! between two great players, the other days are regular matches, any seating will do. Too many years of the fun loving tennis family for this story to be true, other than the obvious association to the POW. Last year the entire family like all years sat one day at the royal box.
It won't change this year.
The only change in Wimbledon is players from Belarus and Russia for both men and women are allowed to play/Foreign office gave them Visa's signing two mandatory documents; 1 against Russian war 1 not allowing them to express anything pro Russian and any brand/logo that is Russian must go out of their clothing. These two documents are mandatory in/out of court, in premise out of premise whereever in UK territory. Note: Wimbledon only accepted this change because the fines were over the millions of euros.
News about the man who is trying to relaunch Party Pieces.
https://archive.ph/NcAIr
Quote
The real reason Carole Middleton?s Party Pieces collapsed (according to the man trying to save it)
James Sinclair explains why he took over the company started by the Princess of Wales? mother and why Britain must back fellow entrepreneurs