Why Crocs is Going Bankrupt

July 16, 2009

Crocs Going Bust In Vicious, Vicious Recession NPR is reporting. but we have a far, far more valid reason why this is happening.

Who wants to wear the same stuff that George Bush wore?

BushCrocs

Evidently sales have been so bad for the “shoe maker” (if you want to call it that) it has lost $185.1 million last year and now has until September to pay off its debt.

But who is going to loan it the nearly $200,000,000 to stay afloat? If you were a bank would you trust the Crocs company to pay you back?

Not really sure if the Great Recession is to fully blame for this one, it was a fad… just like Cabbage Patch Dolls…. and most likely will go the same route…

Plus being associated with the former invader in chief isn’t helping much.

Comments

  • ררק

    idiot reporter.
    $20m loan and not $200m much different for a company with $600M sales.
    learn the facts

  • http://crocsboard ררק

    idiot reporter.
    $20m loan and not $200m much different for a company with $600M sales.
    learn the facts

  • refael

    yes,they made a mistake
    it’s not $200,000,000 loan it’s $20 million

  • http://e refael

    yes,they made a mistake
    it’s not $200,000,000 loan it’s $20 million

  • http://www.tribbleagency.com/ TheFounder

    Take your issue up with NPR … they are quoting “The company lost $185.1 million last year and now has until September to pay off its debt”

    That sounds like nearly $200,000,000 to me…. the article stands as it appears to be correct… Get NPR to retract and I will as well.. but they are the source .

  • http://www.tribbleagency.com TheFounder

    Take your issue up with NPR … they are quoting “The company lost $185.1 million last year and now has until September to pay off its debt”

    That sounds like nearly $200,000,000 to me…. the article stands as it appears to be correct… Get NPR to retract and I will as well.. but they are the source .

  • rafael

    they made a mistake,it’s $20m only not $200m

  • http://e rafael

    they made a mistake,it’s $20m only not $200m

  • http://e CEO of crocs respons at crocs blog!!

    I’m writing in response to the July 16th article on Crocs. We sell comfortable, durable shoes in a wide variety of appealing styles for men, women and children, and offer great value. This is a good business to be in at a time when families are watching their budgets, and we’re confident in the future of our company.

    Critics who suggest we are a one-shoe company couldn’t be more wrong. As we explained to the Post’s reporter, we currently have more than 120 styles of casual, comfortable footwear, including sandals, boots, heels, wedges, flats and functional footwear for people who work on their feet or who have foot or back problems, along with our signature clogs. Don’t take my word for it – you can see for yourself an example of the variety of styles we offer at http://www.crocs.com/womens-footwear-heels-and-wedges/women-footwear-heelsWedges,default,sc.html.

    As the article correctly points out, we face challenges resulting from rapid growth. We’ve taken action to address those challenges, including aligning our production capacity to meet demand, reducing our overhead expenses and the size of our workforce, and paying down debt. We are making excellent progress in dealing with these operational issues.

    There are more than 100 million consumers in 125 countries that love our product. The Crocs brand is only five years old, and already it’s almost as well-known as Nike and Adidas. It’s an icon and whether people love it or hate it, they talk about it – as the online response to this article demonstrates. The Crocs brand remains strong and, inspite of our recent operational difficulties (not unique to Crocs in this economic situation), we remain one of the largest manufacturers of casual shoes.

    Crocs shoes are perhaps the perfect product for a world in which value and simplicity are replacing avarice and over-consumption. We appreciate the support of our many loyal customers, retailers, investors and employees around the world.

    John H. Duerden
    President and CEO
    Crocs, Inc.

  • CEO of crocs respons at crocs

    I’m writing in response to the July 16th article on Crocs. We sell comfortable, durable shoes in a wide variety of appealing styles for men, women and children, and offer great value. This is a good business to be in at a time when families are watching their budgets, and we’re confident in the future of our company.

    Critics who suggest we are a one-shoe company couldn’t be more wrong. As we explained to the Post’s reporter, we currently have more than 120 styles of casual, comfortable footwear, including sandals, boots, heels, wedges, flats and functional footwear for people who work on their feet or who have foot or back problems, along with our signature clogs. Don’t take my word for it – you can see for yourself an example of the variety of styles we offer at http://www.crocs.com/womens-footwear-heels-and-wedges/women-footwear-heelsWedges,default,sc.html.

    As the article correctly points out, we face challenges resulting from rapid growth. We’ve taken action to address those challenges, including aligning our production capacity to meet demand, reducing our overhead expenses and the size of our workforce, and paying down debt. We are making excellent progress in dealing with these operational issues.

    There are more than 100 million consumers in 125 countries that love our product. The Crocs brand is only five years old, and already it’s almost as well-known as Nike and Adidas. It’s an icon and whether people love it or hate it, they talk about it – as the online response to this article demonstrates. The Crocs brand remains strong and, inspite of our recent operational difficulties (not unique to Crocs in this economic situation), we remain one of the largest manufacturers of casual shoes.

    Crocs shoes are perhaps the perfect product for a world in which value and simplicity are replacing avarice and over-consumption. We appreciate the support of our many loyal customers, retailers, investors and employees around the world.

    John H. Duerden
    President and CEO
    Crocs, Inc.

  • FLAduranie

    The way of Cabbage Patch Kids??? This reporter obviously has no clue to what he’s reporting on. Cabbage Patch kids have been around 26+ years and still remain the largest selling LARGE doll.

  • FLAduranie

    The way of Cabbage Patch Kids??? This reporter obviously has no clue to what he’s reporting on. Cabbage Patch kids have been around 26+ years and still remain the largest selling LARGE doll.

  • http://www.tribbleagency.com/ TheFounder

    As much as I like to debate with you the concept of the Cabbage Patch dolls being the end all of all toys past and present …… even beating out the pet rock… keep your discussion on Crocs…

  • http://www.tribbleagency.com TheFounder

    As much as I like to debate with you the concept of the Cabbage Patch dolls being the end all of all toys past and present …… even beating out the pet rock… keep your discussion on Crocs…

  • HansJurgen

    I guess if prez Obama wore them you would endorse the product. Slipping in the “Bush” name and using politics, “invader in chief”, points to the real issue here - STUPIDITY and failure to research FACTS.

  • HansJurgen

    I guess if prez Obama wore them you would endorse the product. Slipping in the “Bush” name and using politics, “invader in chief”, points to the real issue here - STUPIDITY and failure to research FACTS.

  • http://www.tribbleagency.com/?p=5473 Crocs Responds to Bankruptcy rumors

    [...] has responded via a wordpress blog to the Crocs bankruptcy rumors floating online. CEO John Duerden stated the following: As the article correctly points out, we [...]

  • Miltles

    I LOVE Crocs and have several pair. They are the most comfortable shoes I have ever worn !! I won't know what to do if they go out of business. Please stay in business CROCS !!!!!

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