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Crocs Scramble to Stay Afloat

Company may go belly up as debt deadline looms

By Mary Papenfuss,  Newser Staff

Posted Jul 16, 2009 4:03 AM CDT

(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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COMMENTS
Showing 3 of 7 comments
atallison
Jul 17, 2009 5:33 AM CDT
Blame it on the economy and fickle consumers? How about blame it on people coming to their senses that they're wearing the ugliest shoes in the history of footwear.
bewilderbeast
Jul 16, 2009 10:39 AM CDT
Didn't realise the fashion police were this brutal! I mean crocs are REALLY bad, but this punishment seems OTT!
Jes
Jul 16, 2009 6:18 AM CDT
Amen, I just hope they die out before I'm a nurse...

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