Party Pieces, the internet company founded by Kate Middleton's mother Carole, has fallen into administration with over £2.6 million of debt. Restructuring firm Interpath Advisory has been unable to collect the total fees due for the project, as Party Pieces' assets were insufficient to cover the advisers' time costs. The company saw its revenues shrink to £3.2 million last year and incurred a net loss of £900,000 before tax.
Kate's mother Carole set up Party Pieces from home in 1987 and the internet company became a huge success. But in June 2023, the business fell into administration with over £2.6 million of debt. Restructuring firm Interpath Advisory were appointed as administrators, but according to the, it has been unable to collect the total fees due for the project after incurring costs of more than £260,000.
The newspaper reports that Party Pieces' assets were "insufficient to cover the advisers' time costs of £268,928" and that Interpath's team were unable to recoup the total fees for the work by its restructuring professionals, who have "charged an average hourly rate of £566". The City-based firm has received fees of £51,437, but in a report says it "does not to intend to draw our fees in full".Party Pieces saw its revenues shrink to £3.2 million last year from £4.5 million in 2021, and slid to a £900,000 net loss before tax as a resul
Party Pieces Administration Debt Carole Middleton Internet Company Interpath Advisory Fees Assets Revenues Net Loss
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