Middleton's company

[Viviennemary]

There is an article on this in the Daily Mail website.,Apparently the Middletons party company has gone bust with debts of £2.6 m. And lots of creditors are owed money. Somebody has put posters up round their village.

Now so don't really approve of this but it is a bit galling to think of those multi millionaires not paying their debts to smaller businesses that could lose their livliehoods.

During the lockdown era, no one knew how long restrictions were going to last.

I'm not sure how many people on here would be prepared to remortgage their house or sell family assets if they were directors and in a similar situation

They don't need to do this, so why not ask a relevant question:

How many on here would pay the debts you incurred and had given personal assurances would be paid, if you had personal wealth that provided you a mansion and grounds worth over 5 million and multiple residential properties, most of which you would still retain?

I'll answer: in a heartbeat. If I was still in a mansion with grounds, and retained both cash and other assets, then it would be no problem.

Another question:

How many here would say no to the future Queen's mother asking if she could buy more product from you in cash, assuring you she would pay her existing debt soon?

Exactly what I thought.

Yes, and the attempt to expand into America knowing they were in debt was odd, in an over saturated party supply market. Things seemed to crumble quickly after that.

If Carole did tell people that her debts would be paid, then left these small business suppliers hanging, then she is dead wrong for lying and should be held accountable. It's completely unfair

Selling insolvent businesses doesn’t work like that - it’s a highly regulated process. Debts remain with the insolvent business. You can see all the information on the documents filed by the Administrators. They have confirmed there will be no return to the creditors who were owed money.

Iwantcakeeveryday- woah Neddy!😂😂

Regardless of the legalities of the Middleton's business being a limited liability company, and therefore they are not personally liable for its' debts, there is the thorny question of the fact that part of that debt is to the taxpayer in terms of the covid loan. So personally I find it morally questionable that they carved up a last minute sale of the company when it was already in administration to avoid carrying the can.

Yes, it's business - but how embarrassing to shaft the 'little people' and owe those debts all over the place. Surely one of their wealthy daughters could have bailed them out and saved them all this hassle? Very odd and not a good look in my opinion.

I feel a great deal of sympathy for the small businesspeople that are suffering whilst that pair of grifters who were probably trading on their son-in-law’s name, live life high on the hog. They’ve done nothing that’s actually illegal as others have said. But it stinks.

I am not a royalist so I don’t care about the impact on the royalsbut I’m sure it’s yet another negative story the royal family doesn’t need.

I agree with you.

In what way were they trading on William’s name ? Did they give interviews? Books? Rename the company ?

I just find it odd that it is blamed on Covid yet they took their Company into America in October 2022. Why would they do that? Six months later it went into Administration.

Trade creditors know the score , they can get insurance if they extend credit to retailers like this

Yes. Utterly ridiculous little people might trust the future queen's parents to do the decent thing.

Because if they didn’t realise this might impact their own position, then they are fairly dim.

😮

Not only too trusting for their own good but thick as too? Nice.

I just find it odd that it is blamed on Covid yet they took their Company into America in October 2022. Why would they do that? Six months later it went into Administration.

Very good point.

Interestingly on past discussions on the same issue it's been mooted that the change in how the business was set-up made sense on the grounds they would have been looking to wind down into retirement (can't remember how). Looking to expand into America blows that one out of the water.

The whole thing is hazy mystery from start to finish
Who knew that a kitchen table business selling children party bits could generate millions so quickly ?
And yet despite those millions , and the Middletons being the future king’s in-laws , it seems no money is available to pay the small business creditors

It’s not a good look
Willy - aren’t you pulling in 20 million a year from the taxpayer from Cornwall alone ( never mind taxpayers paying security etc on top) ? You are living high on the hog but couldn’t see right done by the subjects who trusted your in laws in business??

Interestingly on past discussions on the same issue it's been mooted that the change in how the business was set-up made sense on the grounds they would have been looking to wind down into retirement (can't remember how). Looking to expand into America blows that one out of the water.

It doesn’t because it’s a common tactic to position your business as growing if you want to sell it, as it makes it a more attractive proposition to potential buyers.

@Serenster

Those small business owners who you deem ‘dim’ no doubt trusted that the future king’s in-laws would be sure to do the right thing and pay them .

Maybe they did, Novella4. And presumably they had all been paid as their bills fell due for a few decades. But the business got into financial trouble due to circumstances beyond its control. It happens. It’s never nice, but it’s incredibly common, particularly in the last couple of years. There’s an awful lot of people on this thread (and there’s be a few threads on this topic) who are loving the opportunity to criticise a failed business just because of who one of their family members is. Good for you on taking the highest moral ground possible though!

It is irrelevant to compare this Middleton unpaid debt scandal to other companies- for the reason I posted above .
The ‘royals’ have raked in billions from the tax payer.If the Middletons don’t have the wherewithal to pay their debts , William should have. It’s the principle of the thing .
It reflects very badly on all concerned .
But who is surprised?
They protect Andrew - why would they care about some little people being out of pocket ?

It doesn’t because it’s a common tactic to position your business as growing if you want to sell it, as it makes it a more attractive proposition to potential buyers

They re-jigged it in 2019.

It can't be both.

It’s the principle of the thing.

For you and your agenda, yes, of course it is. Any stick will do after all. And I’I’m sure if William had helped them out, you’d be the first to be shouting about corruption and misuse of tax payer funds too.

If your sibling sold a company to someone and it went under would you pay their debts?

don’t be ridiculous.

Greedy I would say. Not sure where odd comes into it...

I want to know more about these posters as that is a strong case for Malicious Communication and defamation. Depending what’s been printed, obvs.

Not really. They sold it before this. The new owner took it on with the debts. Nothing dodgy so hopefully they can sue people spreading misinformation for defamation.

Why William has to pay? Lol 😂 Incredible how people make plans with other people’s money.

No, the new owner did NOT take on the debt.