Accountants are still examining James Middleton’s Boomf business records

Late last year, James Middleton’s sad marshmallow business Boomf was finally put out of its misery. Boomf had amassed at least a £800,000 in debt, the company hadn’t been paying its bills or its subcontractors for months, and the company lost millions of pounds in investment before it was sold to an Estonian businessman. James lost interest in Boomf as soon as he started his fourth company, which is selling raw dog food. The dog food company is already a financial mess too, and James is racking up hundreds of thousands in debt through poor management. Don’t worry though, he bought a £1.5 million home near mummy and daddy last year. Curious! Anyway, to emphasize James Middleton’s poor management and his repeated business scams, the Mail’s Eden Confidential column has a curious update:

Though still only 35, the Duchess of Cambridge’s brother, James Middleton, has already blazed an adventurous trail through the commercial world, founding three companies. But the Midas touch exhibited by his parents, who’ve made millions from Party Pieces, the business they famously began in their kitchen, has so far stubbornly eluded him.

Regrettably, that’s not all. For I can reveal that just six months after Boomf — the company James founded in 2013 to exploit the market for novelty marshmallows — went bust with accumulated trading losses of almost £2 million, administrators have enlisted legal firm Withers to assist them in investigating ‘a payment made to American Express UK’ of almost £52,000.

The money was handed over on November 24 — just three weeks before Boomf went into administration.

‘We are obliged to review all the information available to us and conduct an initial assessment of whether there are any matters which may lead to recoveries for the benefit of creditors,’ the administrators record in their progress report, published this week.

The American Express payment, they add, was made by Boomf’s chief financial officer, who explained that she had made the payment ‘solely to protect her personal credit position, as she was named on the card’. One of the administrators, Peter Kubik of UHY Hacker Young, tells me that ‘certain payments are allowed’ even as a company heads into administration, particularly if they ‘preserve the value of the business’.

But that was not the case in this instance, adds Kubik, who explains: ‘She [the finance officer] shouldn’t have done it. The creditor should not have received that money and we’re asking for it back.’

The administrators managed to sell Boomf for £300,000.

Middleton was enjoying Wimbledon this week with his wife Alizee Thevenet. ‘This is just a usual part of the administration process that certain payments are looked at,’ he tells me. ‘This is one of them.’

[From The Daily Mail]

There’s something sad about the fact that creditors and investors are still examining Boomf’s business records and trying to figure out just how poorly managed the company was from the start. I have pity for the forensic accountants looking through Boomf’s records. But of course nothing will happen to James. Three failed businesses and a fourth business headed for failure and he’s only 35 years old. I do blame Carole and Mike for some of this – they needed to have a come-to-Jesus conversation with James years ago about how he’s incapable of running a business and he needs to quit pretending.

James and Alizee attended matches at Wimbledon on Monday:

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32 Responses to “Accountants are still examining James Middleton’s Boomf business records”

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  1. Snuffles says:

    He’s the Middletons Rob Kardashian.

  2. Nic919 says:

    I guess Uncle Gary isn’t willing to front him sketchy money.

    This is a family of grifters no different than the trumps. The main difference will be that they might be afforded more protection because of who their daughter married.

  3. Beech says:

    Does he have a trust fund?

    • Basi says:

      I’m curious too. How does he get money for his seemingly cushy day to day life.

    • M says:

      How could he? The Middletons aren’t that wealthy, it’s mostly smoke and mirrors. They are millionaire adjacent- they have Uncle Gary and now Pips husband- but they themselves are not millionaires or, imo, particularly wealthy. Had their daughters not married well theyd still be in their original home worth about $500K.

  4. Merricat says:

    I’ll bet James is his mother’s favorite, lol. Not much expected of him, but pressure on his sisters to marry well.

    • Julia K says:

      He’s the baby of the family and the only boy. Been there, have seen it and lived it. His entire life he’s been treated like an entitled Prince and now we have this large, dependent man child who leaves chaos in his wake with no acceptance of responsibility.

    • Digital Unicorn says:

      ITA – he expects to ride easily through life off the back of the ambition and grift of his mother and sisters. He lacks the ambition they had/have.

      I would say he is more entitled than his whole family – every business he’s had has been cleaned up by someone else, its beyond obvs that anyone whose stupid enough to invest money with him will lose it all.

      His family bailed him out, his BIL’s bailed him out now his wife will be expected to.

      • Nem says:

        But is Alizée or her family rich enough ?
        there was no fanfare about the social and money status of hers contrary to moderate wealthy pippa’s husband.
        James is no prize, there was no way he would find an heiress or a rich self made woman. 🤣

      • The Recluse says:

        Do not be surprised to find out down the road that he is using his connections to enrich himself, the way Andrew, Sarah, and the Queen’s cousin have.
        If he isn’t already….

  5. Amy Bee says:

    Yeah somebody should tell him he’s not good at business and it’s time to find a new job. It’s not like he doesn’t have contacts who can help him to get a job.

    • BeanieBean says:

      He needs a real job, too. He’s not a businessman at all. He’s had no training, no qualifications. Either didn’t go to university or dropped out. He needs someone to tell him what to do, every single day. Don’t let him make any decisions. Mummy & daddy are the business people, not him. It’s sort of like Elizabeth Holmes being trusted in the medical field because her uncle was a doctor! Seriously, that was the line of thinking one of her investors gave! Seems like people have been giving James money for his crappy business ideas based solely on the success of Party Pieces, his parents’ company.

      • SarahCS says:

        My big question is how successful Party Pieces actually is. I struggle to buy that it generated enough profit to actually make them millionaires. Their money came from elsewhere – uncle Gary, etc. It’s all a facade.

  6. TheOriginalMia says:

    How does he manage to feed himself with his record of financial losses? Amazing. Simply amazing.

  7. Basi says:

    With these failed businesses…how does he get money for day to day living? (A seemingly cushy lifestyle too!)

  8. BeanieBean says:

    Sorry, had to laugh at this, “founded in 2013 to exploit the market for novelty marshmallows”. What market for novelty marshmallows??!! There never was such a market! Is James the key to the money laundering? Is that how the Middletons make their money? Why keep pouring good money into bad businesses? This guy is not a businessman. Is he the Fredo of this family? Or is he just a shmuck?

    • Jenny says:

      I wondered the same thing. Money laundering. If so James is very talented at it.

  9. Trixie says:

    Curious! Hahaha

  10. Harla A Brazen Hussy says:

    All I can say is that I’m glad that Alizee hasn’t fallen into the Middleton women’s habit of horrible fashion and unflattering makeup.

  11. CC says:

    All I can picture now is James jumping out of a plane as the authorities close in, but instead of a parachute appearing when he pulls the ripcord, he’s engulfed in a giant, cushioning marshmallow.

  12. Sunday says:

    It’s giving money laundering.

  13. Luciérnega says:

    Instead of trying to reinvent the marshmallow, perhaps he would find a small measure of success doing something he enjoys that there’s always a need for. He’s good with dogs. Buy some vans and transform them into mobile dog grooming units. Rich people (and average ones, too) would love having a royal adjacent groomer come to their castle. He could do Liz’s corgis!

  14. Mina_Esq says:

    He inherited the most important Middleton skill – he married rich.

  15. The Recluse says:

    Reading this a mental image popped into my head: Zero Mostel and Gene Wilder in the Producers and their characters’ insane plot to become rich by producing an intentional flop.

    • Julia K says:

      The Producers!! Hilarious. Watched it multiple times and still laugh my head off. Gene Wilder was a genius.

  16. Janice says:

    How disgusting. I feel for all the contractors and suppliers who were never paid. As a small company owner I would never start a new project unless I knew I could pay all my bills