Entrepreneur and founder of Drip Footwear Lekau Sehaona dropped a bombshell this week when he announced that his business is being liquidated.
In a letter sent to the employees, the employer stated that they tried everything to avoid liquidation but their efforts were futile.
“Your employment contracts are terminated with immediate effect. We request that you no longer render your services. Any outlets will be closed with immediate effect. The appointed liquidator will take over all Drip Footwear operations/assets.
“All Drip Footwear assets such as laptops, cellphones, chargers, company cars, fuel cards, or any other items must be returned and handed over to the business to ensure a smooth transition of the liquid process,” read the letter.
Amid the liquidity crisis, Sehoana took to X to reveal the unreleased Likwid sneakers. He also posted another sneaker, which he said will drop on December 1.
Both posts created confusion among fans, who were unsure if his business was liquidated or if it was a strategy to protect the assets from his estranged wife who wants a 50/50 split in the divorce settlement.
“Most people think it's the end of Drip but I see a strategic move from this stumbling block, strength to you my brother,” commented @my_opinionZar.
Others said if he wants to start afresh, he must pay his estranged wife and then rebuild his brand.
“Mr Sehoana with all due respect, you still have an empire to save. However, it will require you to consolidate the wisdom to apologise to your wife, pay what's due and rebuild your legacy and family ....be that man for all of us and for the many to whom you gave hope...PRIDe-DRiP,” said @Akiel_Weshi.
Sehoana said he’ll never stop dreaming.
“We’ve got 20 million problems but a dream ain’t one.”