The premium modem brand Balr. has filed for bankruptcy on Monday, July 14th. The brand announced this in a press release. Despite intensive efforts to stabilize the company financially again after the Corona crisis, it was decided to permanently cease business activities. The shareholders: Inside, now focuses entirely on the further growth of the football social media platform 433.
“We really did everything to prevent bankruptcy; from restructuring and cost savings to new collaborations,” says Juul Manders, Managing Director: in von Balr. “But the increasing costs, declining sales and the accumulated debts from the Corona period ultimately became too much for us. I am our customers: inside, partners: inside and our team incredibly grateful for the years of trust and the great things that we have achieved together.” The legal handling of the bankruptcy is expected to be taken over by one: an insolvency administrator: in.
Balr. was founded in 2013 by football players Demy de Zeeuw, Gregory van der Wiel and Eljero Elia. The brand has its own shops in Amsterdam (Kalverstraat 147), Utrecht (Hoog Catharijnpassage 4) and in the center of Oberhausen (Germany).
Balr. to Great Britain and Ireland. There the Start Agency was used as a sales partner. The brand was introduced in luxury department stores such as Harvey Nichols and Selfridges.
The brand’s clothing is sold in over 150 countries. Balr. benefited from the awareness that celebrates the brand gained. Among other things, Cristiano Ronaldo, Dani Alves and Neymar Jr. Cooperations with big names such as Puma, Rolex and Swarovski also contributed to the success.
The minimalist designs and the luxurious look were well received by a wide audience worldwide. Nevertheless, the company could not fully recover from the financial consequences of pandemic.
Share owner: inside of Balr. concentrate on 433
The shareholders: inside of Balr. Now fully concentrate on 433, the social media football platform, which reaches over 350 million unique accounts worldwide. Last month, the Instagram account of the football platform recorded a record of over eleven billion views. The team is working on the further development of the platform through new functions in the app, cooperations and content strategies.
Manders explains: “433 not only grows within reach, but is becoming increasingly evident into a complete ecosystem for football fans. With the support of our shareholders: In the coming years we can develop even faster innovations and expand our community. This decision, as is painful, makes it the right one for the future.”
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