Kate Middleton's parents 'pay the price' to protect daughter’s royal reputation

Kate Middleton's mother Carole and father Michael Middleton have scrapped plans to launch a new business venture to protect their daughter and her husband Prince William's reputation, according to reports. 

Prince George's grandparents registered a company called First Birthdays with Companies House in the UK some years ago which they planned to launch once they had sold off their Party Pieces empire. 

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However, after the collapse of Carole and Michael's party planning business with debts of more than £2.6million, Princess Kate's parents have finally decided to hang up their entrepreneurial dream and focus on family instead.

"The Windsor name took a minor dent when Party Pieces collapsed because of all the money it owed to hard-working people," the source told Express UK.

"There’s no way that the Palace will want that kind of thing to happen again. The royals are meant to be inspirational for hard-working people, not those that are seen to profit from the loss of others," the source claimed.

The couple had to pay a huge price to protect the Prince and Princess of Wales's reputation as they have now scrapped any future business plans.

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The source went on explaining: "Anything the Middletons do will inevitably swing back on Kate, so it’s best that her mum and dad keep a low profile moving forward."

The Middletons have allegedly been the subject of a malicious hate campaign in their hometown of Bucklebury ever since their Party Pieces firm went bust owing millions to creditors.

"Everyone was surprised by how much money paper hats and cups were making, so nobody was surprised when Party Pieces collapsed," the source said.

 "We just hope that the people affected will get their money back."

Prince William's in-laws have not had much luck in business as his wife's brother James has also had several companies collapse in recent years.

However, James will most probably set up another company because he needs to support his family, but Carole and Mike are going to focus on family and their grandchildren instead. Kate's parents do not want to link their daughter's name with their success or  failure.