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Carole Middleton can’t pay her bankruptcy

Carol and Michael Middleton during day nine of the 2022 Wimbledon Championships (London, July 5, 2022).
PA Photos / PA Photos / ABACA

Agreed TimesA consulting firm hired by Kate Middleton’s mother during the bankruptcy of Party Pieces, her party supply company, would not be able to cover all recovery costs.

After the collapse of their Party Pieces business, Kate Middleton’s parents, Carole and Michael Middleton, “are unable to pay the company’s £260,000 bankruptcy costs. (approx. €303,550, editor’s note)“. Here’s what the article published in 1eh April by a British daily newspaper Times. The company, which specializes in the online sale of party supplies, went into administration last year and owes its creditors £2.6m (€3.1m).

In March 2023, a few months before filing for bankruptcy, Carole Middleton approached Interpath Consulting, a financial restructuring firm, to advise her on “strategic options” that “included a sale or seeking new investors.

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1 million euros in damages

Today, Interpath Advisory “will not be able to cover all recovery costs,” that is, the costs incurred to pay off the debt, we read in the article cited in the article. A mirror. “The bankruptcy proceedings required more hours than expected to respond to legal claims and questions from creditors,” the media outlet explained. Although the company received £51,437 (€60,031) in fees and was expected to recover more over time, it decided it would not be able to cover the full amount of costs incurred.

Let us remind you that it is in June 2023 Daily Mail: revealed the bankruptcy of Middleton’s business. Businesses would be hit by the full force of the vagaries of Brexit, inflation or even the Covid-19 pandemic, we learned in a previous article. Madame Figaro. Specifically, between 2021 and 2022 it would have made a loss of £900,000 (€1m). Daily Mail:it would be “unlikely” that creditors would ever recover their debts.

Party Pieces was partly bought by businessman James Sinclair for £180,000; Mirror. Leaving Interpath Advisory with “limited resources to meet its obligations to creditors.”

Source: Le Figaro

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