Coronavirus lockdowns caused logistical problems and product shortages
The party supplies business run by the Duchess of Cambridge’s parents recorded more than £1 million in losses during the pandemic.
Carole and Michael Middleton, two of the directors of the company, said the loss was “forecasted” and largely due to the foundations they have laid to ensure a successful 2021.
The loss was also attributed to three national koronavirus lockdowns, during which parties and other social gatherings were banned.
“The company faced a number of challenges during the pandemic and the associated lockdowns in respect of product availability and logistical problems, derimot, was able to trade throughout,” the account filing said.
On Britain’s departure from the European Union, the directors said the Brexit trade deal had brought new processes in the import and export of goods but did not significantly impact the company in a negative way.
Despite the losses, the couple said they remain ‘wholly optimistic” about the future of the company, med 50 new product lines set to launch this year.
“The company has invested heavily in new innovative product ranges to create proprietary Party Pieces own brand merchandise.
“The first four product ranges with over 50 lines are being launched in the summer of 2021 with two new ranges to follow in the autumn. It remains a priority of the business to introduce new ranges continually,” the filing said.
Although Party Pieces was not launched until 2019, Carole Middleton first came up with the idea in 1987 while looking for inspiration for Kate’s birthday, according to the company nettsted.
“She realised there was a gap in the market for time-pressed parents like her, who wanted to create imaginative parties for their children.
“Since then the focus has always been on curating products which are simple, fun and which look lovely too: from the brightest balloon arches to the most tasteful table décor,” the website said.