The party goods business started by the Princess of Wales’s mother has been sold after falling into administration.
Party Pieces was launched in 1987 when Carole Middleton was looking for inspiration for her daughter Kate’s fifth birthday party.
The business has been bought by entrepreneur James Sinclair for an undisclosed sum.
The company was initially run from the four-bedroom family home in Bradfield, Berkshire.
But after running into difficulties the mail order business was put into administration and immediately sold to the Teddy Tastic Bear Company, one of a number of companies owned by Mr Sinclair.
It is understood the company’s 12 employees will be transferred across to the new owner.
The business sells a wide range of party and birthday paraphernalia from personalised helium balloons, to banners and cakes. “Our party expertise will help you turn a milestone into a memory”, its website said.
But administrators Interpath Advisory said trading had been affected significantly by the pandemic and with pressure on cashflow increasing, the directors sought to explore a number of options.
“Party Pieces is a well-established brand with a proud British heritage, but like many other companies across the retail space had been impacted profoundly by the restrictions on social gatherings,” Will Wright from Interpath said.
[ad_2]
Source link
