As the parents of Princess Katherine, one might assume that Carol and Michael Middleton are rolling in cash, but sadly, that couldn’t be further from the truth.

In April 2024, while their eldest daughter was fighting for her health amid her recent cancer diagnosis, the Middletons were suffering financially over a staggering debt they had accrued through insolvency costs from the sale of their business, Party Pieces.

Reports indicate that Carol is desperately trying to keep Catherine fully focused on her recovery. It’s a very worrying time for the family, but they are not looking for any assistance from their children and don’t want them to worry.

Unfortunately, the family’s money woes were a long time coming. The Middleton’s financial problems first reared their ugly head when Carol opted to sell her 49% stake in Party Pieces to an investment firm. It’s rumored that she did so in an effort to semi-retire and ultimately spend more time with her family.

Sadly, however, the COVID-19 pandemic wreaked havoc on the family’s party planning business. Due to stepping away, Carol wasn’t fully aware of just how bad things were for the business—until there was no coming back.

At that point, Party Pieces was reportedly in debt to the tune of £2.6 million—a sobering truth about Carol’s former multi-million-dollar business. She and her husband soon learned how expensive it is to sell a floundering business.

Initially, Katherine’s parents opted to start the process of insolvency—essentially declaring bankruptcy, which is known as administration in the UK. At that point, the couple hired Interpath Advisory, an insolvency firm, to help them in 2023.

With Interpath’s assistance, the Middletons were able to sell their company to businessman James Sinclair. While some rushed to blame Carol’s financial decisions for the downfall, Sinclair was quick to defend her:

“I don’t think it’s Carol’s fault. She sold half the business at 65 years old to an investment firm, and in my view, they ruined it.”

Alas, selling off such a fledgling business proved costly. In the end, Michael and Carol racked up a £260,000 debt with Interpath. Following a progress report from the firm, the process ultimately took longer than expected, driving up advisory fees.

However, Interpath assured that it would not collect its full fees, giving the Middletons what we can only guess was a very welcome break.

Meanwhile, Royal Finances Face Scrutiny

The Royal Family’s finances are once again under a microscope following news of a record pay increase funded by British taxpayers.

From April, the Sovereign Grant—which funds the Royal Family’s official expenses—will jump by a whopping £45 million, reaching £132 million. However, Buckingham Palace clarified that a significant chunk of this increase will go toward the £369 million bill for palace renovations.

The exact amount being allocated for this year’s renovation work has not been disclosed.

The Sovereign Grant was established in 2012 to help the royals cover costs related to their duties, including property maintenance and staffing. When it was first introduced during Queen Elizabeth’s Diamond Jubilee, the royal roster was much larger, including Prince Philip, Prince Harry, and Prince Andrew—all of whom required funding.

With fewer working royals today, royal author Richard Palmer has pointed out that the public is now getting less for their money.

Beyond public funding, King Charles and Prince William receive private incomes from the Duchies of Lancaster and Cornwall, land and property portfolios established to generate revenue for the monarch and heir.

In the last financial year, these assets yielded £27.4 million for King Charles and £23.6 million for Prince William.

However, these earnings sparked controversy late last year when Channel 4’s Dispatches investigated the setup, revealing that the royals were charging the NHS, armed forces, and charities rent on their properties.