The Prince of Wales's Charitable Foundation three subsidiary companies, PCF Social Enterprsies Ltd - a holding company for A. G. Carrick Ltd and Duchy Originals Ltd, Prince's Charities Events Ltd, and Golden Jubilee Events Ltd. Duchy Originals Ltd is a wholly owned subsidiary of the Foundation. It was set up as a company by the Prince of Wales in 1990, and since then Duchy Originals and Duchy Selections have become well known food brands manufactured and sold by many different companies. The Duchy Originals company is paid royalties by the sellers of Duchy Original and Duchy Selections foods. The turnover of the company, which is the
Waitrose Duchy Organic recession in 2007 and started making a loss. For the financial year 2008/9, the company failed to make any profits and turnover dropped to £2.2 million, with an operating loss of £3.3 million, compared to the previous year's operating profit of £57,000. Fortunes improved after the 2009 Waitrose arrangement, and by 2013 annual profits were £2.8 million. Duchy Originals' only venture into manufacturing has been the "Duchy Originals Food" company. This was a wholly owned subsidiary of the Duchy Originals company and it opened a factory in Launceston, Cornwall in 2006. The factory was a bakery making both sweet and