All you haters will probably rejoice at the news that the economic downturn has kicked around Crocs and it may not survive. Their brilliant rubbery shoe-sandal hybrids might possibly be no more.
Crocs faces an April 2 deadline to pay off $22.4 million it owes on its revolving credit line. On Thursday, the company said it is seeking an extension and is in discussions with lenders to secure a new line of credit.The company on Tuesday disclosed that its auditors had expressed "substantial doubt" about Crocs's ability to stay in business.
Relatedly, bucking the trend, Deckers Outdoor Corp has increased sales along with their share price. Oh yeah, they make Uggs and Teva sandals (Boo! Hiss!).
Read previous Crocs coverage and commentary on the brilliance of their sandals here.