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Carole Middleton’s online party decorations company has hired advisers to seek new backers as it struggles with diminishing sales.
The Princess of Wales’s mother founded Party Pieces in 1987 alongside her husband Michael after she was looking for inspiration for Kate’s fifth birthday party.
However, the company faced difficulty over the recent festive period and reportedly became embroiled in a row with suppliers after suffering a dip in customer spending due to the cost of living crisis.
Party Pieces has now appointed Interpath to advise on its strategic options, according to the Telegraph.
A spokesman for the company said: ‘We are working with our advisers to secure additional investment which will help support the business as we look to embark on the next phase of our growth plan.’
On top of inflation impacting the company, Royal Mail strikes also caused delays to deliveries and prior Covid 19 restrictions meant fewer people were planning parties.
Originally created to provide affordable gifts for children’s parties, Party Pieces expanded to the US last year in a deal with the supermarket Saker ShopRite.
Carole visited several US stores to see her products herself, which were featured alongside cardboard posters of her.
Last October it was revealed that the firm racked up a loss of £285,506 in 2021, taking its total deficit to £1.35 million.
This was reportedly a consequence of ‘continued investment in the company’s growth plans, including the launch of a wholesale division and the opening of new territories in the U.S., Europe and Middle East’.
The recent struggles of the company also comes after Party Pieces launched a rewards system for customers to earn points by shopping in November.
The brand’s best-selling Party Pieces Collection features products such as plates, napkins, cups, hats, balloons, treat stands and decorations.
The firm is based at Child’s Court Farm in Yattendon, Berkshire, and employs around 40 people.
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