With each passing year, it gets harder and harder to believe that Party Pieces was ever the source for the Middleton family’s wealth. I don’t doubt that for years, PP was a profitable business, perhaps even a successful enough business to provide a comfortable life for Carole, Michael and the Middleton children. But no, I never believed that PP made Carole and Michael into millionaires several times over, enough to finance the arrested-development adulthoods of Kate, Pippa and James. That money came from other income streams, or perhaps shady Uncle Gary. In any case, the bloom is off the rose, so to speak. For years now, Party Pieces has recorded significant losses. Carole tried to branch out the business to include a sliver of the American market, with an exclusive deal with Shop-Rite. To no avail – more losses, more financial shambles.

Carole Middleton’s company has seen a ‘terrible Christmas’ of business and is now in a dispute with suppliers over their payment agreement, it has emerged. The Princess of Wales’s mother owns party decoration supplier, Party Pieces. It was founded in 1987 when Carole was looking for inspiration for her daughter Kate’s fifth birthday party. But the company faced difficulty over the recent festive period with a dip in customer spending due to the cost of living crisis.

Carole, who famously started the business on her kitchen table, is now reportedly doing her utmost to bolster its prospects and has taken on the challenge herself by dealing directly with suppliers.

A source told the Daily Mail: ‘Carole’s been explaining that it’s been a terrible Christmas — made worse by the postal strikes. She’s emphasised that she’d like to continue doing business with them [the suppliers] but would like terms allowing Party Pieces 90 days [in which to pay for goods] rather than the usual 30 days.’

However, Carole’s appeal to suppliers has so far been unsuccessful. ‘They’re saying, “No” to 90 days’ credit,’

Carole admitted a year ago that the company was operating in a ‘competitive market’, adding: ‘We work hard to stay ahead of the trends and ensure we have original designs and “I wish I’d thought of that” products.’

Last October it was revealed that the firm racked up a loss of £285,506 in 2021, taking its total deficit to £1.35 million. This was reportedly a consequence of ‘continued investment in the company’s growth plans, including the launch of a wholesale division and the opening of new territories in the U.S., Europe and Middle East’.

[From The Daily Mail]

I don’t even necessarily think that this is the result of bad decision making from Carole, honestly. It’s just that the party-supply business is pretty niche and even more overcrowded at the moment, especially with the prevalence of online shopping and discount stores. The cost of living crisis is the icing on the cake of this downturn, but even then, Carole was doing the right thing by trying to expand into the American and Middle Eastern markets. But again, the product is niche, and even if you expand it to say that Party Pieces is more of a lifestyle brand, that’s still a very crowded market, and a market which has seen significant downturns across the board.

What happens now? God knows. I suspect significant withdrawals from the Bank of Gary Goldsmith are in order. Perhaps Carole’s son-in-law will spare some Duchy of Cornwall money for her. Perhaps Terribly Moderately Wealthy James Matthews will also be called in for a cash infusion. I always wondered why Carole didn’t unload PP years ago – just sell it to someone, pocket a tidy profit and claim you’ve retired. I bet she regrets not doing that now. Maybe no one made her a good enough offer.

Photos courtesy of Avalon Red.

Carole Middleton and Michael Middleton arrives at the state funeral and burial of Britain’s Queen Elizabeth, at Westminster Abbey in London, Britain, September 19, 2022.,Image: 724081127, License: Rights-managed, Restrictions: -, Model Release: no, Credit line: Geoff Pugh for the Telegraph / Avalon

Michael Middleton and Carole Middleton The State Funeral of Her Majesty The Queen, Service, West Door, Westminster Abbey, London, UK – 19 Sep 2022,Image: 724158040, License: Rights-managed, Restrictions: , Model Release: no, Credit line: James Veysey/Shutterstock / Avalon

Carole Middleton The State Funeral of Her Majesty The Queen, Service, West Door, Westminster Abbey, London, UK – 19 Sep 2022,Image: 724158170, License: Rights-managed, Restrictions: , Model Release: no, Credit line: James Veysey/Shutterstock / Avalon

Carole Middleton The State Funeral of Her Majesty The Queen, Service, West Door, Westminster Abbey, London, UK – 19 Sep 2022,Image: 724158734, License: Rights-managed, Restrictions: , Model Release: no, Credit line: James Veysey/Shutterstock / Avalon

WINDSOR, ENGLAND – SEPTEMBER 19: Carole Middleton and Michael Middleton arrive at Windsor Castle ahead of the Committal Service for Queen Elizabeth II on September 19, 2022 in Windsor, England. The committal service at St George’s Chapel, Windsor Castle, took place following the state funeral at Westminster Abbey. A private burial in The King George VI Memorial Chapel followed. Queen Elizabeth II died at Balmoral Castle in Scotland on September 8, 2022, and is succeeded by her eldest son, King Charles III.,Image: 724191188, License: Rights-managed, Restrictions: -, Model Release: no, Credit line: Leon Neal / Avalon

Carole and Michael Middleton arriving for the ‘Together at Christmas’ Carol Service at Westminster Abbey in London. The service will be broadcast on ITV1 on Christmas Eve as part of a Royal Carols: Together At Christmas programme, narrated by Catherine Zeta Jones and featuring an introduction by Kate and tributes to Queen Elizabeth II.,Image: 744946541, License: Rights-managed, Restrictions: , Model Release: no, Credit line: Kirsty O’Connor / Avalon