Rubber Sole

Will Crocs Soon Be Extinct?

The world of fashion may soon be able to breathe a sigh of relief: Crocs, the brand of rubbery clogs we all love to hate (but mostly just hate) is rumored to be circling the drain. After selling 100 million pairs since opening in 2001, the company reportedly lost $185.1 million last year and cut 2,000 jobs because, apparently, Americans are fine with just one pair of flotation-device shoes, thanks. Now, Crocs has a surplus of shoes, no clientele, and a pile of debt, says The Washington Post, the company announced five months ago that it was replacing its chief executive and remarketing the shoes to caterers, medical workers and people with foot problems. But will it be enough? "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."