Kate Middleton is mortified as her younger brother, James Middleton has been asking brother-in-law, James Matthews, to put money in his marshmallow business so it can stay afloat.
Recent reports indicated that Pippa Middleton’s husband agreed and had already invested a big amount to help save James’ personalized marshmallows business called Boomf.
According to Daily Mail, James Matthews spent about $100,000 to prop up his brother-in-law’s dwindling business. Boomf was said to have incurred a $1 million loss, so Matthews helped out when asked by buying 12,853 shares at around $10 each.
The big loss helped James Middleton get a bank loan from Barclays, which amounted to $500,000. Moreover, what made things worse was the fact that Kate Middleton’s brother also got in touch with Pippa’s former boyfriend, Charlie Giles, to ask him to invest in Boomf. Still, the company’s decline continues as it loses money every day.
It appears that even with the huge amount that James Middleton is able to get from investors, it is still not enough to save the business. In fact, he was even forced to cut his company’s share price not long ago.
The price now is down to only $3.50 each. Based on this new rate of Boomf sales, the firm’s total worth has been downgraded to only $40,900, which is about one-third of the price he paid for the company.
Apparently, Kate Middleton is not happy with this recent development regarding her brother James’ business. Since investors are losing money on her sibling’s company, it is quite uncomfortable for her. Plus, the fact that Pippa and James Matthews are newlyweds makes the Duchess of Cambridge feel even more embarrassed.
Likewise, although James Matthews may not be saying anything, losing so much investment money may be very frustrating for him. Perhaps this financial issue, if not resolved, could strain his relationship with his in-laws.
As pointed out by Celebrity Dirty Laundry, a falling out between James Matthews and James Middleton is possible if the situation at Boomf does not improve.
James Middleton set up his marshmallow printing business in 2013, and the following year, he launched the mobile version of the marshmallow picture-printing business using a restyled bicycle. This was stationed in a department store, and customers can get their orders instantly as the printing is done on-site.
However, the new venture did not help boost Boomf’s sales. Despite all the issues being reported, James Middleton remained mum about the real status of his business.
[Featured Image by Jeff Spicer/Getty Images]