A Johannesburg-based company has allegedly filed papers in the high court in Johannesburg for the liquidation of popular sneaker brand Drip Footwear for failing to pay it more than R20 million, Sunday World recently reported.
According to the publication WideOpen Platform allegedly filed papers in court seeking an order to wind up Drip. WideOpen Platform is said to have accused the Drip company as being insolvent and unable to service its debts.
On top of that, WideOpen Platform is also said to be planning to file a lawsuit against the Drip owner for failing to pay the debt after signing a surety agreement for the entity. MD of Drip was gunned down’: Netizens on Lekau ‘death threats’
Lekau Sehoana, the Drip founder has recently broken his silence with his fans on social media. Taking to X (the social media previously known as Twitter), Sehoana assured his fans and social media users that he plans to remain positive and keep his mind “focused” during this time.
“A day in a life of an entrepreneur. You can lose it all, just don’t lose your mind and focus. You’ll need those to rebuild,” the Drip founder wrote on X.
He has since been praised by several social media users. On the other hand, his fans rallied behind him as seen in the comment section.
A day in a life of an entrepreneur.
You can lose it all, just don’t lose your mind and focus. You’ll need those to rebuild.
— Lekau Sehoana (@LekauSehoana) January 29, 2024
Source: The southafrican
