James Middleton loses millions on his marshmallow business, Boomf
Kate Middleton’s little brother James has lost $3.6 million in the last year on his marshmallow business, named Boomf.
The balance sheet has been released, showing that the company made the losses during 2016, compared with $1.5 million the previous year.
James at his sister's wedding
The business, which prints pictures onto marshmallows to personalise them, was founded by James in 2013. It experienced some initial success, but has been dwindling for the past couple of years and is now being kept afloat by loans.
James brother-in-law James Matthews, husband of Pippa, is one of the business’ investors. He bought 12,853 shares in 2015, investing almost 160,000 in the company.
Unfortunately, Pippa is also having some business issues. The younger sister of the Duchess of Cambridge, who wed husband James earlier this year, took steps to close her own business PXM Enterprises last month.
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