Kate's mother Carole set up Party Pieces from home in 1987 and the internet company became a huge success.
The newspaper reports that Party Pieces' assets were "insufficient to cover the advisers' time costs of £268,928" and that Interpath's team were unable to recoup the total fees for the work by its restructuring professionals, who have "charged an average hourly rate of £566". The City-based firm has received fees of £51,437, but in a report says it "does not to intend to draw our fees in full".