The British monarchy faces an unexpected financial scandal as the Middleton family, in-laws to the future King William, find themselves in a bankruptcy crisis, reportedly owing a staggering $3.2 million to creditors. This financial debacle has not only created ripples in the tranquil village of Bucklebury but has also invited scrutiny upon the Royal Family, putting Kate, the Duchess of Cambridge, under an unwanted spotlight.
Royal commentators have reported posters tarnishing the reputation of Carole and Michael Middleton, appearing across the picturesque village. Some of these posters seem to emanate from the angry sentiment of local creditors, who feel misled because of the Middleton family's royal connections. One creditor, representing Sultani Gas, voiced his disappointment saying, "What hurt me most was I trusted her as the mother-in-law of the future king - and she just betrayed me."
Party Pieces, the 35-year-old venture run by the Middletons, is cited as the primary source of this debt. The company, which catered to party needs, experienced a severe downturn due to the pandemic-related lockdowns and the subsequent ban on large gatherings. An inside source pointed out that, "Carole and Michael were living beyond their means after their daughter married into the royal family - and their party store paid the price." Notably, the Middletons moved from a $1.8 million residence to a grand $5.7 million estate the year following Kate's royal wedding.
The breakdown of the Middleton's alarming debt includes a significant amount of $265,211 owed to RBS bank as a Coronavirus Business Interruption Loan, along with other substantial dues. Among the $3.2 million, there's $1.7 million in unsecured loans, $552,900 to various creditors, and taxes summing up to $743,000, which are marked for immediate payment.
Despite this financial turmoil, insiders claim that the Middletons are unlikely to face destitution, given Prince William's substantial fortune, estimated at over $100 million. However, a notable consequence of this fiasco might be the cessation of discussions regarding bestowing a royal title upon the Middletons. As one source remarked, "For the first time in 1,000 years, a future king - Prince George - has grandparents without even an earldom!"
While Prince William and the Duchess of Cambridge grapple with this controversy, some members of the royal family, such as Camilla, Duchess of Cornwall, appear to view the situation with more than a hint of schadenfreude. "Camilla will make sure of it! It's her revenge on royal rival Kate," revealed an inside source.
This financial fiasco has undoubtedly brought unexpected challenges to the royal household. As the Windsors navigate this storm, the public awaits with keen interest on the aftermath of the Middleton's financial downfall.
The Globe magazine reported on the sources' comments.
