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."
After, against all logic, the company managed to sell 100 million pairs of shoes over seven years, they made millions more shoes to meet demand. They even made charms with which to adorn them. Luckily the universe has no room for this sort of hideousness, and as fate would have it, the economy crashed. Crocs customers realized their money is best spent on anything other than that absurdly ugly footwear.
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.
Most Viewed Stories
‘Weed Dick’ Is the New Way for Men to Sexually Disappoint You
Portraits of Privilege: A Teen Demands Mac ’n’ Cheese
The Big Secret of Every Dating App: Tech Doesn’t Matter
How to Get Out of Any Party Conversation
Amber Rose, Populist Slut Hero of Our Time
7 Alternatives to Those Sold-Out L.L. Bean Boots
Adriana Lima on Boxing, Brazilian Beauty Secrets
Cindy Crawford on Bagels, Instagirls, and Bringing the Supermodel Era to TV
You Think You’re Too Classy to Drink Champagne From a Bong?
From Our Partners
The Fashion Spot
10 Genius Mascara Hacks That Will Change Your Life
The Mental Illness Stigma
Demi Lovato's 'Vanity Fair' Photo Shoot Is Totally Nude, Totally Natural, And Totally Woah
Color Correcting Is the Makeup Step You're Missing Before Contouring
powered by PubExchange
Latest News from The CutKarl Lagerfeld Won’t Offer Himself Up to Science
He says researchers have approached him about testing his DNA.Charging My Phone in the World’s Most Beautiful Abercrombie
French Abercrombie really is different.The Unexpected Personal Connection Behind the DOMA Decision
In an excerpt from her new memoir, lawyer Roberta Kaplan describes how she first crossed paths with Edie Windsor and Thea Spyer.Lame U.S. Constitution Doesn’t Even Protect Sex Parties
What's the First Amendment even for, anyway?Even in Death, Grandma Will Not Stop Burning Alex Rodriguez
Never stop sassing.Staving Off Cynicism at Comme des Garçons, McQueen, and Céline
A counterpoint to luxury-mongering.Chrissie Hynde Doesn’t Care If You Buy Her Book or Her Version of Rape
She's a rock star, not a spokesperson.9 Books We’re Reading Right Now
From brand-new thrillers to classic nonfiction.Cate Blanchett Wore a Hot-Pink Suit
Barbie, is that you?Why Is My Poop Green, Goth Whopper?
Black food has an unexpectedly bright side.
From Audrey Tautou to Zooey Deschanel.All About Chanel’s Airport-Themed Show
Paging Mr. Lagerfeld!John Galliano Doesn’t Do Instagram Eyebrows
Put down the brow pencil.Rihanna Will Never Settle
When it comes to men, she says, "I will wait forever if I have to ... but that’s O.K."Chanel Brings Back the Pigtail
You're going to want two of everything.Adriana Lima on Boxing, Brazilian Beauty Secrets
"It's in the water, I think."Portraits of Privilege: A Teen Demands Mac ’n’ Cheese
It does not end well.Watch the Valentino Livestream
Enjoy!Tour a New York Interior Designer’s Bogotá Pied-à-terre
For when Juan Montoya pops in for a family visit.
She walked, she twerked — and she was pretty inspiring.