WATCH | Limited-edition sneaker owners cry foul as Court Order shop is liquidated
The sneaker resale shop Court Order has entered voluntary liquidation, leaving over 100 consignors concerned about the recovery of their high-value stock and owed payments. The company's bank accounts are frozen, and the director has apologized for the lack of communication regarding the business failure.
Why it matters
This highlights the risks associated with consignment business models and the financial vulnerability of individual sellers in the secondary luxury market.
More than 100 people who consigned limited-edition sneakers and clothing with the sneaker resale shop Court Order are fearing the worst after the company entered voluntary liquidation .
Some claim to be owed between R50,000 and R100,000 worth of stock and payments, with questions now being raised about whether they will get their money or items back.
View this post on Instagram Court Order director Ahmed Seedat confirmed the business had entered voluntary liquidation and apologised for the lack of communication.
“I recognise the distress, anger and uncertainty this has caused, particularly for consignors awaiting payment or the return of their stock,” he said.
“Following the commencement of liquidation, Court Order’s bank accounts have been frozen . We are therefore unable to access company funds or make payments.
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