Great news! Crocs might finally disappear from shelves as soon as September. Apparently, the shoemaker has until the end of September to pay off its debt.
Last year alone, the company lost $185.1 million. They cut off about 2,000 jobs, but still owe their 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."
Although the company amazingly managed o sell 100 million pairs of shoes to unsuspecting victims over seven years, they made millions more shoes to meet the demand. They even made charms to go along with them.
But their success was too good to be true, and the economy crashed: that's when Crocs customers realized that they shouldn't be spending so much money on hideously 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."
However, the company is in denial about the situation. They even recently hired a new CEO to lead the Crocs forward. He's even telling analysts George Clooney has promised to work with the company.
Though we thought George had decent taste, of course someone as loaded as him wouldn't feel the economic crunch that crushed the other Crocs customers.
Celebrities love wearing wide-leg pants, because they are comfortable and fashionable. Actually, these pants are a classic clothing item that can get you out of trouble on multiple occasions, when you do not know what to wear. People are usually associating the wide-leg pants with the hippie trend. But they can be worn for multiple events, not only at a beach party. When it comes to wide-leg pants, it is crucial to find a pair that compliments your hips and waist. Read more
The sea has a romantic appeal that is hard to experience elsewhere. Setting sail aboard a luxury liner on the high seas can be one of the most fulfilling experiences. And there can be no better time than the year end vacation. The mood of festivities in the air and the lengthy vacation are probably the best time to take trip onboard luxury liners. And a destination that is equally appealing and thrilling like the North Pole will take the vacation to the next level. Here is how you can make the most of your vacation. Read more
If you’ve dreamt of becoming an artist ever since you were young, it’s not too late. You may be thinking you have no idea where to start. That’s normal with any career, but especially with the art world. Read more