Kate Middleton's Brother Gets Bailed Out from Business Debt by Family

Kate Middleton's brother, James was forced to turn to his family when his new cupcake business, Nice Cakes incurred over $25,000 of debt last year.

Nice Cakes was set up by James in 2011 under Nice Group London Ltd, that came about after the success of his 2007 startup, The Cake Kit Company, and asked his well-off parents to help secure him an overdraft.

The Daily Mail reports, James owes creditors $7,750 and accounts state "The bank overdraft is secured by a member of the director's family."

The loss doesn't seem to faze James as he shares his plans for the company in 2013.

"It's not uncommon for start-up companies to make a loss in the early stages of development and it is not something I am concerned about right now," he tells the Telegraph. "On the contrary I am very excited as after running a pilot over 2012, Nice Cakes will be officially launching later this year with a brand new website and range of products which I am very excited about."

The 25-year-old isn't the only Middleton family in the entertaining business. Parents Carole and Michael own Party Pieces, a successful party-planning company and sister Pippa recently released a party-planning book, aiming to be a party planner.