Thursday, September 14, 2017

Arrrg! Kate Middleton's Brother Clocks Up Massive Losses In His Business

Kate Middleton 's brother has seen losses as his company sinks to almost £2.2million. New figures for James Middleton's personalised marshmallow and novelty greetings card business show losses have doubled from last year.

The company's cash reserves, which sat at £1.1million last year, have plummeted to £440,000.

Accounts for Boomf, just made public, show it is being kept going by loans of £766,667.

The paperwork states: "Liabilities include long-term borrowing from a firector of £266,667 and the company's bankers of £500,000. With this continuing support the directors are of the opinion that the company will be able to continue trading and meet its obligations as they fall due."

News of Boomf's losses were revealed just a few days after James Midleton's sister Pippa decided to shut her own business PXM Enterprises, just a few months after marrying millionaire James Mathews.

Boomf's makes marshmallows and chocolates imprinted with personalised photos. It also makes novelty greeting cards with pop out confetti.

The balance sheet for Boomf shows it made a loss in 2015 of £1.17million but this rose to £2.19million in 2016.

Boomf is based at his parents' Party Pieces business premises in Berkshire, but he also has an office in trendy Hackney East London, in a shipping container.