Princess of Wales's parents' party goods firm sold

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.

Its new owner purchased the mail order business through a so-called pre-pack administration, where a company is put into administration but then immediately sold on.

The 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 has now been sold to Teddy Tastic Bear Company, one of a number of businesses owned by Mr Sinclair.

It is understood the company's 12 employees will be transferred across to the new owner.