Family businesses set to lose £450,000 following collapse of Princess of Wales's parents' party supplies company earlier this year

A string of family businesses will not receive any of the £450,000 they are owed by Party Pieces, the company run by the Princess of Wales’s parents that went bust this year. Party Pieces, which sells decorations and party paraphernalia for children’s events, was founded by Kate’s mother Carole Middleton, 68, and father Michael, 74, in 1987 and was once reported to be worth £30 million. A string of family businesses will not receive any of the £450,000 they are owed by Party Pieces, the company run by the Princess of Wales’s parents that went bust this year Party Pieces, which sells decorations and party paraphernalia for children’s events, was founded by Kate’s mother Carole Middleton, 68, and father Michael, 74, in 1987 and was once reported to be worth £30 million Administrators warned at the time that unsecured creditors, who are collectively owed more than £2million, are unlikely to receive their money back. It states: ‘Based on current estimates, we do not expect there to be a dividend to unsecured creditors.’ Among those out of pocket are Sultani Gas, a Kent-based company that supplied Party Pieces with helium for its balloons, which was owed £20,430, and party decorations firm Ginger Ray, owed £52,304.