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WEDNESDAY, NOVEMBER 25, 2009
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11

Crocs Scramble to Stay Afloat

Company may go belly up as debt deadline looms

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(Newser) – The company that makes the once-ubiquitous, quirky Croc shoes is about to go belly up, experts fear. The Colorado firm lost $18.5 million last year, has a warehouse full of unwanted shoes and just weeks to pay off its debt. Blame it on the economy and fickle consumers. "The company's toast," said a manager of an investment fund. "They're zombie-ish. They're dead and they don't know it."

Will Crocs go the way of the dinosaur?
Will Crocs go the way of the dinosaur?   (Photo: Business Wire)
Crocs aren't selling the way they used to and their Boulder-based manufacturer is scrambling to stay afloat.
Crocs aren't selling the way they used to and their Boulder-based manufacturer is scrambling to stay afloat.   (AP Photo/David Zalubowski, file)
Crocs Inc. has just weeks to meet a debt deadline, and experts fear the company will go belly up.
Crocs Inc. has just weeks to meet a debt deadline, and experts fear the company will go belly up.   (AP Photo/Ed Andrieski, file)
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11 comments
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bewilderbeast
Jul 16, 09 5:39 AM CDT
Didn't realise the fashion police were this brutal! I mean crocs are REALLY bad, but this punishment seems OTT! Reply
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shonangreginpalau
Jul 16, 09 5:40 AM CDT
They were targeted by short-sellers a while back too. I wonder why they couldn't just try to make the business sustainable than trying to expand so quickly, sell the stock with that expectation, and then have investors see their weakness and short-sell, and now this . . . I never did like their sue-crazy attitude anyway. Methinks if they do go belly-up, they'll just become a patent-troll with enough investment to sue everyone making similar;ar products who haven't paid their lawyers sufficient licensing fees. Reply
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DJM420
Jul 16, 09 8:24 AM CDT
thank god these shoe are so retarded looking --- definitely a fad that lasted WAY too long - and i dont give a shit how comfy you think they are Reply
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+4
IN RESPONSE:
Jes
Jul 16, 09 1:18 PM CDT
Amen, I just hope they die out before I'm a nurse...
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Timinator2K
Jul 16, 09 8:40 AM CDT
They're way the heck over-priced 'cause the knock-offs are about 1/3 to 1/2 their price. When you lose your uniqueness, your work is cut out for you to keep your price point...and in a BAD economy, lotsa luck. Reply
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+1

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