However, Interpath has admitted it won't be able to cover the full fees incurred during the process. They found that £268,928 in time costs couldn't be covered by Party Pieces' assets. Reports suggest that Interpath's team struggled to recover their fees due to the extensive hours required to meet statutory requirements during the insolvency process.
Party Pieces, which was established in 1987 by Carole and Michael as a children's party business, later expanded to offer decorations and gifts. Like many businesses, it faced a decline in sales during the COVID-19 pandemic, leading to its collapse.
The company was eventually sold to entrepreneur James Sinclair for £180,000. Carole, aged 69, had stepped back from daily operations in 2019 but returned to assist when Party Pieces sought a rescue deal in spring 2023.
Carole and Michael reside in Bucklebury, close to the Prince and Princess of Wales' residence at Adelaide Cottage. They are known to be hands-on grandparents to Prince George, Princess Charlotte, and Prince Louis, as well as to their other grandchildren through their daughter Pippa and son James.
Meanwhile, their daughter, the Princess of Wales, is undergoing cancer treatment and spending time with her family.
