Crocs, 7, a fashion faux pas gone wild
A couple weeks back, the Washington Post delivered to the nation an obituary for Niwot-based Crocs, outlining the company's demise in a story that's since been reprinted in papers throughout the country.
Last year the company lost $185.1 million, slashed roughly 2,000 jobs and scrambled to find money to pay down millions in debt. Now it's stuck with a surplus of shoes, and its auditors have wondered if it can stay afloat. It has until the end of September to pay off its debt.
"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."
But the Boulder Daily Camera isn't letting the company go down without some hometown booster journalism. They responded over the weekend with a story about the company's new CEO, who vowed to "return it to profitability by next year."
Call me a pessimist, but my money's with the name-calling analyst. Anyone disagree?