Lekau Sehoana. Image via Twitter @joy_zelda

‘Lose it all’: Drip founder Lekau Sehoana on company’s liquidation

R20 million: A local company is said to have applied for the liquidation of Lekau Sehoana’s footwear company Drip.

by Mihlali Vellem

29-01-2024 13:54

in Local Celebs

Lekau Sehoana. Image via Twitter @joy_zelda

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.

R20 MILLION: DRIP FOUNDER LEKAU SEHOANA ON BUSINESS LIQUIDATION

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

ALSO READ: Wrong-footing: Drip Footwear boss in legal battle with ex-wife

“Hopefully, that company will be able to rise up again. It has been a beacon of hope for many, especially black aspiring entrepreneurs,” @sthamber said.

“We can’t let this business fail. We shouldn’t be happy to see it fail. Going to buy a pair today,” @siphoBMj wrote.

“It’s crazy, people who celebrate this are those who own nothing. These guys must bounce back and make three times the debt,’ @stallionheat commented.