Crocs Scramble to Stay Afloat

Company may go belly up as debt deadline looms
By Mary Papenfuss,  Newser User
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." (Read more Colorado stories.)

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