Since 1987, Carole Middleton, the mother of Kate Middleton, has been at the helm of the company Party Pieces, which she founded that same year with her husband Michael. It was their daughter Kate who inspired them to start this business, when they were thinking about what kind of decoration and party they would offer their daughter for her fifth birthday.
This business, focused on party decorations, has brought the couple much joy and satisfaction as entrepreneurs. Originally created to offer affordable gifts for children’s parties, Party Pieces expanded into the U.S. last year in a deal with an american supermarket line.
But it now finds itself in a tricky spot. The problems go back a long way, when with the advent of the pandemic, the decline in party hosting was noticeable. Now there are more drawbacks. On the one hand, the cost-of-living crisis has caused sales to decline.
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On the other hand, strikes at Royal Mail, the U.K. postal service company that provides services nationally and internationally, have caused delays in deliveries from suppliers. The company is at a total deficit.
As reported from the company, this was 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 the Middle East.”
Faced with the concern that all this has generated, Carole Middleton is desperately looking for solutions. As reported by the British media ‘The Telegraph’, she has turned to Interpath, a financial advisory firm, for guidance on her strategic options to save the familiar business.
