Publications
Partners
The party is over for Carole Middleton. The Princess of Wales’ mother has sold the party supply business she started almost 30 years ago.
The move came as something of a shock because seven months ago she launched Party Pieces in the US to much fanfare. However, insiders say the business was struggling financially and was teetering on the brink of bankruptcy.
READ MORE | Carole Middleton: her rise from air hostess to party company CEO
Carole reportedly sold the business that she and husband Michael had built up over the year to James Sinclair, an ice-cream entrepreneur from Essex who owns several businesses.
Will Wright, head of restructuring at financial advisory firm Interpath oversaw the sale.
"Party Pieces is a well-established brand with a proud British heritage, but like many other companies across the retail space, it had been impacted profoundly by the effects of the pandemic and the ensuing restrictions on social gatherings," he said.
“We’re pleased to have been able to conclude this transaction, which sees the business acquired by James Sinclair. We wish him all the very best for the future.”
Friends say Carole (68) and Michael (73) were ready to walk away from their business, which they sold at a loss, to focus on other things.
“Carole has poured her heart and soul into Party Pieces and loves the business, but she’s 68 and she's there running things pretty much full-time every day. It’s too much of a commitment – she wants more time for family, gardening and travel,” a source says.
The Middletons apparently want to be more involved in the lives of their grandchildren, especially Prince George (9), Princess Charlotte (8) and Prince Louis (5).
It’s believed Kate and William will be leaning on them more for help with their kids as their royal duties increase and they're needed more by King Charles and Queen Camilla in the future.
READ MORE | Carole Middleton shares sweet childhood snap of Kate, the Duchess of Cambridge
Carole and Michael also have three other grandchildren, Arthur (4), Grace (2) and Rose (2 months), from their youngest daughter Pippa Middleton-Matthews.
While Carole describes herself as hands-on, the doting granny told Good Housekeeping in 2021 that she doesn't try to interfere with her grandchildren’s upbringing as she respects how her daughters raise their kids.
“I feel it's my children's role to pass on what they think is important to their children. I’ve learned to be a wise grandmother, I hope.”
Sources: dailymail.co.uk, Instagram, express.co.uk
