'To save daughter's reputation': Kate Middleton's parents scrap future business plans after family firm collapses

After hitting the rocks due to unpaid bills worth over £600,000, the family firm that turned the Middleton family into millionaires collapsed, with debts of nearly €2.6 million. Months after this, Carole and Michael Middleton, the parents of Kate Middleton have now decided to "keep a low profile" and have scrapped any future business plans "to save their daughter's reputation." Earlier this year, the pandemic-hit firm 'Party Pieces' collapsed due to unpaid dues after the suppliers threatened legal action. Administrators were appointed and the business was immediately sold for an undisclosed sum. 

Speaking about the company, 68-year-old Carole and 74-year-old Michael registered the company 'First Birthdays' with Companies House. They had plans to launch this one after their former business 'Party Pieces' was sold. A celebration paraphernalia mail order business, Party Pieces was built by Mr and Mrs Middleton in 1987. It not only grew into a successful business but also generated significant wealth for Middletons. 

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At the peak of its business, the firm was said to be worth around €44 million. However, it was significantly impacted by the pandemic and the restrictions on social gatherings, which led to its collapse. 

Kate Middleton's parents to 'keep a low profile' 

According to a Mirror report, after the collapse of their party planning business, Mr and Mrs Middleton have thought to give up the dream of the new company and instead decided to focus on the family.

Considering that people have lost a lot of money due to the business failure and the Palace would not want any of it to happen again, the Middletons have scrapped any future plans "to protect their daughter's reputation."

"The couple were busy planning their next move but have now scrapped any future business plans to protect their daughter's reputation. Anything the Middletons do will inevitably swing back on Kate, so it's best that her mum and dad keep a low profile moving forward," the publication quoted a source as saying.