Besides cancer scare

Kate’s parents can’t pay horrendous debts

Carole and Michael Middleton not only have to worry about their daughter Kate at the moment, but also have a debt problem that is keeping them awake.(Bild: APA/AFP/Oli SCARFF)

In addition to worrying about their daughter Kate, who has cancer, Carole and Michael Middleton are currently struggling with other problems. Following the bankruptcy of their company a few months ago, the Princess of Wales' parents are reportedly currently unable to pay their horrendous debts.

Princess Kate is currently fighting bravely against cancer. Her parents Carole and Michael Middleton are of course also an important source of support during this time. It was the 69-year-old who sat next to her daughter in the car in the first photo that emerged after Kate's operation. But the Middletons have a lot of financial problems on top of their worries about the Princess of Wales' illness.

Financial worries
It is now reported that the bankruptcy assets of their company Party Pieces, which went bankrupt last year, do not even cover the fees for the insolvency proceedings.

Carole and Michael Middleton not only have to worry about their daughter Kate at the moment, but also have a debt problem that is keeping them awake at night.(Bild: APA/AFP/Oli SCARFF)

Last year, the Middletons had to sell their company, which sold party items for children's birthdays and Christmas parties, for example. The Princess of Wales' parents owed their creditors three million euros.

Debts cannot be paid
And now the next piece of bad news: as Interpath Advisory, the company tasked with handling the insolvency, confirmed to the Mirror newspaper, the proceedings will take longer than expected.

The reason given was that the legal requirements of the creditors simply cannot be met. It is reported that only around 60,000 euros have been received so far, but the costs amount to around 300,000 euros.

Insolvency after the coronavirus pandemic
Carole and Michael Middleton have been running Party Pieces since 1987, which has brought the couple a considerable fortune in the past. So much so, in fact, that the Middletons were able to send their children Kate, Pippa and James to the prestigious Marlborough Collage boarding school to lay the foundations for a successful life.

But then came the coronavirus pandemic with its numerous lockdowns - and the demand for party supplies fell to zero. A circumstance from which the Middletons' company was simply not to recover.