Jimmy Bartel’s shoe business XBlades owes millions to creditors

XBlades footwear business that Jimmy Bartel once invested in owes millions of dollars to multiple creditors including the AFL

A footwear and clothing company that Jimmy Bartel once invested in now owes millions to creditors after going bankrupt.

According to the Herald Sun, XBlades owes $2.65million to 82 different creditors.  

Creditors include the Australian Football League and the Australian Rugby League Commission, according to a report by XBlades’ administrator.

Financial trouble: XBlades, the footwear and clothing company that Jimmy Bartel (pictured) once invested in, now owes millions to creditors after going bankrupt

The company was handed over to an insolvency firm last month. 

XBlades was founded by Bill Spyros in 1989, and at the height of its success, its spiked boots were worn by legendary sports stars such as David Beckham.

But Spyros stepped down as director in July, which marked the beginning of the end for the decades-spanning business. 

Going under: The business recently went bankrupt, just four years after Bartel (pictured) invested in it

Going under: The business recently went bankrupt, just four years after Bartel (pictured) invested in it

Bartel was reportedly just a ‘silent investor’ and hadn’t ‘had any involvement in the company for two years’.

He invested in the company back in 2016, and revealed he’d poured his ‘own cash’ into the enterprise. 

In a statement put out by XBlades at the time, Jimmy exited his ‘long partnership’ with Adidas to take up with the company.

Silent: Bartel was reportedly just a 'silent investor' and hadn't 'had any involvement in the company for two years'

Silent: Bartel was reportedly just a ‘silent investor’ and hadn’t ‘had any involvement in the company for two years’

The former Australian rules footballer was appointed product development director, developing the latest ranges of boots.

Bartel first pulled on a pair of XBlades when he was just 13, and said he wanted to make the brand ‘a bit cooler’.

‘I believe in it that much I actually put my own money into it,’ he said at the time.

‘This is not an ambassadorship or “get upfront and spruik the brand”, I really believe in XBlades, and they were my first footy boots when I started playing as a junior at Bell Park.’

He added: ‘I know boots, I’ve spent too many hours in footy boots.’

Hands-on: The former Australian rules footballer was appointed product development director, developing the latest ranges of boots

Hands-on: The former Australian rules footballer was appointed product development director, developing the latest ranges of boots

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