Lokeren: Belgian side face bankruptcy
- Published
Killian Overmeire (right) looks dejected during a game between Lokeren and K Beerschot in February
Belgian club Lokeren face going out of business after failing to find an investor to help them avoid the threat of bankruptcy.
The second-tier club have debts estimated at 5m euros (拢4.4m), according to Belgian media, with players owed wages and debts to suppliers also outstanding.
Chairman Louis De Vries says they will now not contest a request to the Belgian commercial court on Monday to declare them insolvent.
"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,鈥 said De Vries in a statement.
"After a thorough evaluation, we have had to decide that our lawyer will accept the decision to be brought before the commercial court today."
Lokeren had their professional licence withdrawn earlier this month by the Belgian Football Association.
The club won four of 28 second division games this season and were to play in the promotion-relegation playoff matches before the league was suspended, and then cancelled, because of the coronavirus outbreak.
The two-time Belgian Cup winners, who also knocked English club Hull City out of the Europa League six years ago, were due to celebrate their 50th anniversary in June.