Possibility Drip Footwear could come back and trade under different management - lawyer
Last week, advertising firm, Wideopen Platform, was granted an application to wind up Drip Footwear over unpaid advertising fees.
Drip footwear founder, Lekau Sehoana. Picture: X/@LekauSehoana
JOHANNESBURG - The advertising company behind the liquidation of popular Drip Footwear says there is still a chance the company could rebrand and make a return under new management.
Last week, advertising firm, Wideopen Platform, was granted an application to wind up Drip Footwear over unpaid advertising fees.
In 2022, the owners of Drip signed an acknowledgment of debt but failed to keep their end of the deal to make monthly payments to cover the outstanding fees.
The company’s liquidation has now left employees at 14 retail stores across the country without a job.
The lawyer representing the advertisers, Kim Warren, said there were now interested parties looking to acquire the company.
"Obviously, we need a bit of time to secure all the assets because some assets have been removed from some premises, we’re trying to locate all the assets. In the meantime, the liquidator will negotiate with interested parties and take offers from them to take over the brand, the business and the stock. So, it’s quite possible that it could come back and trade under a different management, if I can put it that way."