Drip footwear evicted from Spring Mall over R500 000 debt

Local South African sneaker brand, Drip Footwear had hit hard times.

Sunday World reports that the popular brand is being evicted after failing to pay rent of over R500 000 at Springs mall.

According to the lease agreement between Drip and the mall, monthly rentals of R20 000, water and other charges of R88 000 and a share of the annual turnover estimated at R399 000 are being claimed.

Drip failed to submit their audited annual financial statements and did not pay their monthly rentals between December 2022 and February 2023.

The Springs branch was opened in 2021, with Superstar, Cassper Nyovest visiting the shop for its opening.