Ex-footballer Demy de Zeeuw’s BALR fashion brand bankrupt, leaves €8.7 million debt
The fashion brand BALR, founded by former Dutch footballer Demy de Zeeuw, went bankrupt in July, leaving nearly 8.7 million euros in debts, according to the first bankruptcy report released Friday by curator Laurie van Leeuwen.
BALR, launched in 2013 by De Zeeuw with partners Juul Manders and Ralph de Geus, initially grew rapidly, claiming 15 million euros in revenue by 2018.
The brand expanded from its web store to ten physical shops and developed high-end lifestyle products, including speedboats, luxury cars, apartment interiors, and villas, with founders aiming for 100 million euros in revenue, according to RTL.
Despite its public image as a success — De Zeeuw appeared on Quote magazine’s “young millionaires” list until 2022 with an estimated net worth of 15–17 million euros — the company lost money for years.
From 2020 to 2023, annual revenues ranged between 4 million and 5 million euros, yet BALR never posted a profit. Total losses over that period reached approximately 4.2 million euros.
The 2023 loss was reported at nearly 750,000 euros in the bankruptcy report, though company filings list it 1 million euros higher; Van Leeuwen confirmed the discrepancy will be corrected in a future report.
BALR had stopped receiving bank financing in recent years and was funded by its shareholders, who reportedly lost about 4 million euros.
It also owes a substantial tax debt accumulated during the coronavirus pandemic. How much of the shareholder financing came from De Zeeuw personally is unknown. The ex-footballer did not respond to inquiries from RTL Z.
