Drips Group line has announced the closure of its kiddies Republic Company “Lekau Sehoana Kiddies Republic. The business released an official statement confirming that the business is in the process of liquidation.
The founder announced that the company will close the kiddies shops called Kiddies Republic, after a year it was opened at the Mall of the North in Polokwane, Limpopo.
YOU MAY ALSO LIKE ON TSZ MZANSI: Landlord Moves AKA’s Belongings From His Rented Apartment
“2022 was a good year for the founder of Drip Footwear. It was mostly due to the hard work, vision, and collaborations he had that year. However, 2023 is turning out to have some challenges” he wrote.
“In 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 management said.
“The liquidation process of Kiddies Republic is currently underway and the liquidators were appointed last week by the Master of the High Court. All the stakeholders have been informed by the management of the liquidation and the subsequent appointment of the liquidators.”
ALSO ON TSZ MZANSI: Meta, Launch New Feature On WhatsApp “Channels”
The statement further emphasized that the liquidation won’t affect Drip Footwear and its operations.
However, Lekau Sehoana disclosed that he is shocked to see the news about the closure of the shop gain so much attention . He further revealed that as a businessperson, he sometimes finds himself in a mall where there is no traffic and, therefore, has to move the shop from that position to the next one or if it doesn’t make business sense to have the shop, then he has to close it.
