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According to sources close to the royal family, the collapse of the Middletons’ once-thriving business has led to overwhelming debt, reportedly in the hundreds of thousands. Combined with Catherine’s recent health struggles, it has made the past year incredibly difficult for the future Queen.
Princess Catherine has just resumed royal duties after undergoing six months of chemotherapy. As she prepares to perform at the 2024 Christmas service—an event meant to mark her return—she continues to carry the emotional weight of her parents’ financial distress and the unrelenting spotlight of the media.
A source close to the Wales family described how this year has been one of the most taxing periods in Catherine’s life. She has had to navigate her own recovery while maintaining her public responsibilities and being a supportive daughter. The story of the Middleton family—how their business thrived and then declined—offers a deeper look into the challenges they’ve faced and the impact it’s had on both Catherine and public perceptions of the royal family.
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Party Pieces, started by Carole and Michael Middleton in 1987 from their home, grew into a well-known British party supply company. Its success allowed the Middletons to afford elite schooling for their children, including Catherine, which eventually led her to meet Prince William at university. But times changed. The rise of massive online retailers and the economic downturn following the COVID-19 pandemic hit Party Pieces hard. As celebrations were canceled during lockdowns, the company struggled. Despite Carole’s determined efforts, declining profits and increasing debt forced them to sell the business in 2023—a tough blow both financially and emotionally.
An acquaintance of the family shared that selling the company felt like closing a major chapter of their lives. Party Pieces wasn’t just a business; it represented the family’s hard work, ambition, and identity.
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For Catherine, seeing her parents—her lifelong supporters—go through such financial turmoil has been heartbreaking. She knows the many sacrifices they made so she and her siblings could have every opportunity. Carole and Michael weren’t only nurturing parents; they were role models who taught their children values like humility and perseverance. Catherine often credits her mother as the emotional anchor of the family and a source of inspiration.
Now, as her parents deal with mounting debts and public scrutiny, Catherine feels a deep sense of helplessness. A source said she views her parents as incredibly strong people, and witnessing them struggle has been painful beyond words. What’s more, she has expressed guilt over not being able to shield them from the media frenzy that surrounds their troubles.
Despite maintaining a dignified public image, the Middletons’ situation has taken a toll on the entire family. They once enjoyed a comfortable lifestyle and worked tirelessly to ensure their children received the best possible start in life. The fall of their business has reminded Catherine just how much her parents gave up for her success.
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One insider noted that Catherine often reflects on her parents’ late nights and financial risks, all so their children could attend private schools and extracurricular activities. Party Pieces wasn’t just a source of income; it was a symbol of her mother’s passion and resilience.
Catherine’s own health crisis in 2024 only intensified her emotional load. Diagnosed with a serious illness in late 2023, she went through an exhausting course of treatment. This period was one of the hardest in her life—not only because of the physical toll but because she couldn’t support her parents as much as she wanted to. Prince William has been a constant source of strength during this time, offering his support while she tried to stay connected with her parents, even making daily calls during her treatment.
Though Carole and Michael have tried to shield Catherine from their worries, the love and concern between them remain mutual. This difficult time has only drawn them closer, reinforcing the strength of their bond.
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Growing up, Catherine admired her mother’s ability to balance raising a family with running a business. Now, as Carole faces financial uncertainty, Catherine feels a mix of sorrow and admiration for how gracefully her mother handles adversity. She also regrets that her parents’ situation has become media fodder, as they’ve always valued privacy.
The Middletons’ rise from modest beginnings to high society following Catherine’s marriage brought a fair share of criticism, especially from traditional circles who saw them as outsiders. Carole, in particular, faced classist jabs from tabloids that downplayed her achievements. Yet many in the public admire the family for their work ethic and see them as relatable in a country increasingly celebrating merit over lineage.
It’s also worth noting that while Party Pieces was their main income source, the family benefited from a trust fund passed down from Carole’s great-great-grandfather, Francis Martineau Lupton. This helped fund the children’s education and gave the family a financial safety net, though the media rarely acknowledges this detail.
Princess Catherine’s honesty has sparked mixed reactions. While many have expressed compassion and praised the Middletons’ perseverance, some critics argue that the royal family could have done more to help. Commentators note that the situation humanizes the royal family and highlights how even those in the public eye face deeply personal challenges.
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