Kiddies Republic, the first kiddies store by DRIP Footwear, has confirmed its closure, as seen in a video circulating on social media.
An employee stated that the closure was due to non-payment of rent.
The store, located at The Mall of the North in Polokwane, Limpopo, opened on 30 July 2022 with plans to expand to more locations. However, the financial viability of Kiddies Republic did not meet expectations, leading to the difficult decision to close its doors and initiate a liquidation process.
The liquidation of Kiddies Republic is currently underway, with liquidators appointed by The Master of the High Court.
Stakeholders have been informed of the liquidation and the subsequent appointment of the liquidators.
DRIP Footwear clarified that the liquidation of Kiddies Republic does not affect the overall operations of the company. Kiddies Republic is a separate entity managed independently from other entities under CEO Mr. Lekau Sehoana.
Media Statement: For Immediate Release by Kiddies Republic
14 June 2023 pic.twitter.com/ey8Hrrd5XN
— Kiddies Republic ZA (@kiddiesZA) June 14, 2023
DRIP Footwear, as a whole, remains unaffected and will continue its operations as usual.
It is unfortunate to see the closure of Kiddies Republic, but DRIP Footwear assures its customers that the brand itself remains strong and committed to its ongoing success.