After 1974, "VfB" slipped from the ranks of second-tier teams to fourth division Landesliga Schleswig-Holstein. They recovered a place in the 2. Bundesliga just over two decades later and resumed their role as an "elevator side", moving frequently between the second and third divisions. In 2004, the team reached the semi-finals of the DFB-Pokal (German Cup), but lost to Werder Bremen in extra time. After it was revealed that the club has been suffering from financial difficulties, it finally filed for bankruptcy at the district court Lübeck in April 2008 and was eventually forcibly relegated to the Schleswig-Holstein-Liga (V) for the 2013–14 season. After a league championship at this level and success in the promotion round the club returned to the Regionalliga (IV) in 2014. They followed up a second place finish in 2019 with a division title in 2020 and advanced to play in the 3. Liga (III).