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.
When it comes to tableware, we could see that most of the people are handling over the products based on the prices and styles which are involved in it. Well, it is such a common thing where we can witness among most of the people. Read more
Every year, it is a mystery of what to give your girlfriend for Christmas. It is a real task, as she is not that confused, but you are most of the time clueless as to what to get her. Given below are some of the merry, modern and still evergreen Christmas gift ideas for your girl – you don’t have to be clueless anymore. Read more