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How Kate Middleton's Parents Really Lost So Much Money

The article from MSN discusses how Kate Middleton's parents, Carole and Michael Middleton, experienced significant financial losses primarily through their business, Party Pieces. Initially successful, the company faced severe challenges due to the economic impacts of the global health crisis, which drastically reduced demand for party supplies. The Middletons had expanded the business with loans, including a £220,000 loan from NatWest, which they struggled to repay as the business's fortunes declined. They also took out a £45,000 "bounce back" loan from the government, which was meant to help small businesses survive the downturn. However, Party Pieces was sold in May 2023 to entrepreneur James Sinclair for an undisclosed sum, but not before it had accumulated debts of around £2.6 million. The sale did not cover all the debts, leaving suppliers and creditors owed money. The article also touches on the personal impact, noting that despite their daughter's royal status, the Middletons faced the same financial pressures as many other business owners during the crisis.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/how-kate-middleton-s-parents-really-lost-so-much-money/ar-BB1rkVDi ]