Good news! Crocs might disappear as soon as September. The shoemaker has until the end of September to pay off its debt. Last year the company lost $185.1 million. They cut about 2,000 jobs, but still owe creditors millions. The Washington Post reports:
“The company’s toast,” said Damon Vickers, who manages an investment fund at Nine Points Capital Partners in Seattle. “They’re zombie-ish. They’re dead and they don’t know it.”
Good news! Crocs might disappear as soon as September. The shoemaker has until the end of September to pay off its debt. Last year the company lost $185.1 million. They cut about 2,000 jobs, but still owe creditors millions. The Washington Post reports:
Two summers ago, Nancy Fisher of the District bought two pairs of Crocs, one green and one pink, for her daughters. The girls, now 8 and 12, wore them constantly and even got charms to decorate the tops. This year, the shoes are forgotten.
“They were their go-to,” Fisher said, “and now they’re just really interested in flip-flops.”
Praise! But the company is in denial about their imminent demise. They recently hired a new CEO to lead the seemingly pointless exercise of trying to keep Crocs afloat. He’s telling analysts George Clooney has promised to work with the company. We thought George had decent taste, but it makes perfect sense: Someone as rich as he is hasn’t felt the economic force that knocked the beer goggles off so many other Crocs customers.
