Lekau Sejoana's drip footwear company goes into liquidation
South Africa's popular street brand drip footwear It was ordered to be liquidated by the High Court in Johannesburg.
The judgment follows an application by Wideopen Platform, a company specializing in large-scale advertising, which claims Drip owes it R20 million for services provided.
Drip Footwear, owned by Lekau Sejoana, has laid off several employees at its 14 stores nationwide.
Wide Open attorney Kim Warren explained: The Citizen Drip said he tried unsuccessfully to oppose the liquidation in March. “Wide Open owed R20 million for advertising services…he tried to oppose it in March but could not win,” Mr Warren said.
According to company staff, Mr. Recau did not inform staff about the liquidation.
“He didn't tell us what was really going on. When we met with the sheriff last Wednesday, we were told the store was closed and the staff were told to pack up and leave. It happened out of the blue,” the manager explained.
“He has known about it (the liquidation application) for months, but our salaries have been missing or delayed,” the manager said.
In a letter to employees on Monday, Sejoana said of the liquidation: Unfortunately, this was an unavoidable situation despite the company's considered measures. ”
