The online party goods supplier founded by the Princess of Wales’s parents has been sold after it failed to avoid collapsing into administration.
Sky News has learnt that Party Pieces Holdings, which was launched by Carole and Michael Middleton in 1987, was bought on Thursday by James Sinclair, an entrepreneur.
Sources said the sale had been implemented through a pre-pack administration, meaning it had appointed insolvency practitioners before being sold without some of its liabilities.
It was unclear what price Mr Sinclair’s company, Teddy Tastic Bear Co Ltd, had paid or how big the liabilities were that had been left behind.
According to his personal website, Mr Sinclair “operates a 30m business which includes leisure, childcare,…
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