Another closure at Gonubie mall

Dros was one of the King's Mall's biggest tenants and opened to much fanfare in 2007 when the mall opened but this week it was confirmed that the venture had failed.

King's Mall, which cost developers R120m to build, has space for about 44 shops but at present the mall is only 60% let.

Liezel Conradie, national executive manager for Hermans and Roman Property Solutions, who were earlier appointed to take over the property management aspects of the mall, confirmed that Dros had been closed since 11 November 2009.

“They have filed for liquidation and the shop has already been handed over to an independent liquidator,” she said.

Conradie added that Mike's Kitchen and Wimpy had shown interest in opening outlets in King's Mall.

According to Conradie, Mike's Kitchen had already made an offer to Hermans and Roman, while representatives from Wimpy would be visiting the mall early next year.

A flood of tenants has left the mall since July this year when the owners of the development, King's Financial Services (Kingfin), were placed under provisional liquidation.

The action followed an inspection report compiled by the Financial Services Board which indicated that directors Adrian, Paul and Stephen King had misappropriated investors' money and misled them regarding the safety of their investments.

Paul King, who was once described as the kingpin behind the developers of the mall, was found dead in the Western Cape in August.

It is believed he had committed suicide.

Kings Mall centre manager Iwanka Visser confirmed that the restaurant had closed but declined to comment further.

Employees at the centre said they had heard the restaurant closed because the kitchen staff went on strike, while others said that it might have something to do with rent.

“The owner was always complaining about the rent,” one of the security guards, who declined to be named, said.

Gonubie resident Anathi Matha said she was saddened to see so many stores closing at King's Mall.

“I enjoyed visiting the mall and am shocked to see what it has become,” she said.

Efforts to reach Dros owners Alvin Stoltz and Philipe Cappelle were unsuccessful.

René Jordaan, of Dros's head office, did not return calls or e-mails inviting comment.

Source: Daily Dispatch

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