TORN FROM THE HEADLINES OF THE FINANCIAL PAGES.....
Is This the End for CROCS?
BE interactive The company that manufactures CROCS is on the verge of bankruptcy.
CROCS, which was originally founded by Andrew Reddyhoff and Marie-Claude de Billy of Quebec, is in financial crisis.
The American firm that has since bought the brand has been recording significant losses for quite some time. For the second quarter, $30 million in losses was reported and sales were down by 11%.
In 2008, several employees of the company lost their jobs. The third quarter is expected to be much stronger with anticipated sales of $150 million.
CROCS first arrived on the market in 2002. Now, it seems that the shoes are a victim of their own success. Their quality and durability makes them virtually indestructible, leaving no reason for consumers to purchase replacements.
Several stars have also helped to bring the brand's popularity, including Al Pacino, Jack Nicholson, Teri Hatcher, George W. Bush, and many others.
CROCS management have until late September to settle their debts, otherwise, the company will fold.
OR - people figured out they were butt ugly and stopped buying them...I'm just sayin'!