Lekau Sehoana in debt of R20 million
Lekau Sehoana’s footwear brand, Drip faces liquidation due to failure to pay R20 million debt.
WideOpen Platform filed the papers in the high court in Johannesburg, saying that the company cannot service its debt.
WideOpen Platform managing director Tomer Cohen says Drip should be liquidated in terms of the Companies Act, citing its inability to pay for advertising services rendered to the sneaker brand.
“The respondent is currently indebted to the applicant in the sum of R20 442 285.06 with interest thereon at the prevailing prime interest rate calculated from 1 June 2023 to the date of payment, both days inclusive,” read the court papers.
“The respondent’s indebtedness to the applicant arises out of certain advertising agreements concluded between the parties.”
Despite the letters and agreement, Sunday World reveals that Lekau has refused to pay.
