Princess of Wales' parents sell Party Pieces in a rescue deal after the business collapsed into administration

fifth birthday, but they sold the firm to Essex-based entrepreneur James Sinclair after months of speculation about the company's future.

Instead, the firm was bought by Teddy Tastic Bear, one of several businesses owned by entrepreneur James Sinclair, through a device known as a pre-pack administration. This procedure allows an insolvent company to sell its assets without some of its liabilities before an administrator is appointed.

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