Kate’s mother Carole Middleton hires advisers to seek new backers for struggling online business
Kate’s mother, Carole Middleton, hires consultants as she searches for new patrons to help her Party Pieces online business.
Carole Middleton’s online party decorations company has hired consultants to find new sponsors as it struggles with declining sales.
The mother of the Princess of Wales founded Party Pieces in 1987 with her husband Michael after seeking inspiration for Kate’s fifth birthday party.
However, the company ran into difficulties over the recent festive period and was reportedly embroiled in a dispute with suppliers after suffering a drop in customer spending due to the cost of living crisis.
Party Pieces has now appointed Interpath to advise on its strategic options, according to the Telegraph.
A company spokesperson said: “We are working with our advisers to secure additional investment that will help support the business as we look to embark on the next phase of our growth plan.”
Carole Middleton’s Party Pieces business has hired consultants to find new sponsors as it struggles with declining sales.
As well as inflation hitting the business, the Royal Mail strikes also caused delivery delays and earlier Covid 19 restrictions meant fewer people were planning parties.
Originally created to provide affordable children’s party favors, Party Pieces expanded to the US last year in an agreement with supermarket Saker ShopRite.
Carole visited various stores in the US to view their products, which were displayed alongside cardboard signs of hers.
It was revealed last October that the firm racked up a loss of £285,506 in 2021, taking its total deficit to £1.35m.
This was reportedly 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 US, Europe and the Middle East.”
The company’s recent struggles also come after Party Pieces launched a rewards system for customers to earn points for shopping in November.
The brand’s best-selling Party Pieces collection includes products such as plates, napkins, cups, hats, balloons, treat holders and decorations.
The company is based at Child’s Court Farm in Yattendon, Berkshire, and employs around 40 people.
Carole and Kate Middleton photographed shopping in Chelsea in 2006