Drip founder Lekau Sehoana. Image via Twitter @joy_zelda
Drip boss Lekau releases statement on closure of kiddies store
Following reports that workers had not been paid for months, Drip CEO Lekau Sehoana has released a statement on one of his businesses.
Drip founder Lekau Sehoana. Image via Twitter @joy_zelda
Limpopo-born businessman Lekau Sehoana, who owns famous sneaker brand Drip Footwear, has confirmed the closure of one of his businesses.
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LEKAU SEHOANA CONFIRMS CLOSURE OF KIDDIES REPUBLIC
Taking to his social media accounts, the entrepreneur – who is said to have fled to Paris, France, as he fears for his life – said that his Kiddies Republic store has been liquidated.
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“The first Kiddies Republic store was opened on 30 July 2022, at The Mall Of The North in Polokwane, Limpopo with the plans to open more stores.
“However, in any business, an owner takes a risk by operating with the hopes of the business becoming successful. This was sadly not the case. Kiddies Republic was not financially viable thus the difficult and unfortunate decision to close our doors and undergo a liquidation process.
“The liquidation process of Kiddies Republic is currently under way and liquidators were appointed last week by The Master of the High Court. All stakeholders were informed by management of the liquidation and subsequent appointment of the liquidators,” read the statement in part.
Lekau reiterated that Drip Footwear has not been affected and will continue to operate as it is a seperate entity from Kiddies Republic.
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HAVE WORKERS BEEN PAID?
According to ZiMoja, a source alleged that Lekau’s Kiddies Republic was financially embattled.
The source claimed that the store had closed down due to rent non-payment and staff not getting paid. The staff members were said to have not received salaries for three consecutive months.
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“We have not been paid our salaries. It’s not fair because we have been working and coming to work. We have families to take care of,” a source was quoted as saying.
On Sunday, when Lekau trended for reportedly fleeing the country, gossip account Maphephandaba shared a video recorded by one of the Kiddies Republic employees.
