The Princess of Wales’ parents, Carole and Michael Middleton, have reportedly sold their business Party Pieces. Sky News reported on May 18 that Party Pieces Holdings had been purchased by entrepreneur James Sinclair.

Sources told Sky News that “the sale had been implemented through a pre-pack administration, meaning it had appointed insolvency practitioners before being sold without some of its liabilities.”

Prince George, Princess Charlotte and Prince Louis’ maternal grandmother is the founder of Party Pieces. The company’s site previously stated that it started back in 1987 when Carole “was a young mother looking for inspiration for her daughter’s birthday party when she realised there was a gap in the market for time-pressed parents like her, who wanted to create imaginative parties for their children.”

Carole, who is a mom to Catherine, Pippa and James Middleton, told The Daily Mail in 2021 that her kids “inspired” her business. She said, “My children inspired my business and have been involved from the start, and the success that we’ve had has helped us build the life we have currently.”

Prince William’s mother-in-law added, “I feel incredibly fortunate to have found the professional fulfilment I always wanted.”

The DailyMail.com reported back in April that the Princess of Wales’ parents were planning on stepping away from the business. “Carole and Mike are ready to retire, and rather than just shut up shop, they are looking at the options to see whether someone will buy the business,” a friend told the outlet at the time. “Carole has poured her heart and soul into Party Pieces and loves the business, but she’s 68 and is there running things pretty much full-time every day. It’s too much of a commitment — she wants more time for family, gardening and travel.”

The friend revealed that it had taken Carole “a while to come to terms with the fact that she’s ready to step away and enjoy her time more,” adding, “There are now a lot of grandchildren and she loves being a granny.”

Carole currently has six grandchildren: The Prince and Princess of Wales’ three kids, and Pippa and James Matthews’ children, Arthur, Grace and Rose.