Belgian second-tier club Lokeren could become the latest victim of COVID-19 as they close to bankruptcy after failing to find a new investor before the deadline.
Lokeren had their professional club licence withdrawn earlier this month by the Belgian Football Association.
They planned to make an appeal once they have money to pay off debts worth approximately 5 million euros.
But on Monday, the club confirmed they would no longer appeal to the Belgian commercial court to declare them bankrupt.
“Despite all our efforts, we have not been able to attract the necessary investors in a timely manner,” Lokeren chairman Louis De Vries said in a statement.
Bedankt voor de massale opkomst. Jullie waren GE WEL DIG! 💛🖤👏 #roeLOK pic.twitter.com/MwEavVNAlB
— Sporting Lokeren (@KSCLokeren) February 22, 2020
To my great regret and sorrow, I must inform you that, despite all efforts up to and including yesterday, we have not been able to attract the necessary investors in time to meet the deadline to appeal for the club licence to ensure continuity.
“After a thorough evaluation, we have had to decide that our lawyer will accept the decision to be brought before the commercial court today.”
Belgian media said Lokeren’s players were still owed wages and payments to suppliers were also outstanding.
Lokeren won only 4 out of 28 second division matches this season and was due to compete in promotion-relegation playoff matches before the league was suspended.
It’s the most unfortunate event for a club like Lokeren since they were due to celebrate their 50th anniversary in June this year.