(ReliableNews.org) – One of the reasons Kate Middleton was so appealing to the public when she started dating and eventually married Prince William is that she came from a family with no aristocratic background. The press referred to her as a “commoner.” Her parents are allegedly dealing with a very common problem: financial struggles.
Princess Kate’s parents, Carole and Michael Middleton, owned a popular party-planning business, Party Pieces. The company was so successful it propelled the future queen consort into the upper echelons of British society. Last year, the company went into administration, the UK’s version of bankruptcy.
According to the Times of London, when the company went into administration, it reportedly owed creditors £2.6 million ($3.3 million). Interpath Advisory (IA) was appointed to handle the collapse of the business. The London firm reportedly charged £566 (about $713) per hour to handle the case.
The media report claims the firm recently learned the company’s assets weren’t enough to cover IA’s expenses of £268,928 (over $338,000). The Middletons will now have to come up with the money to cover those expenses to settle the issue.
US Weekly recently reported Carole is trying to protect Princess Kate from the family’s financial debt and the stress her parents are under while she’s undergoing cancer treatment. The Princess of Wales announced last month that her doctors discovered she had cancer after she underwent surgery in January.
Kate’s mother has been by her side throughout the cancer ordeal. She’s reportedly helping watch the children while Prince William has been by his wife’s side. The princess said she was receiving chemotherapy as a precautionary measure. The treatment is incredibly hard on a person’s body, and her mom doesn’t want her to burden herself with the family’s financial problems. Additionally, reports indicate the princess’ parents are not asking their children to bail them out. They will figure it out on their own.
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