Niwot, Colo. — The auditor of Crocs Inc. says it has “substantial doubt” about the ability of the shoemaker to stay in business amid falling revenue.
Crocs, maker of the colorful plastic shoes, disclosed the opinion of Deloitte & Touche LLP in an annual report filed Tuesday with the Securities and Exchange Commission.
The company said it is in discussion to replace its current revolving credit facility, which matures on April 2, but if it cannot secure additional financing and continues to lose money, “we may be unable to maintain a level of liquidity necessary to continue operating our business,” Crocs said in the filing.
This just might be the Happiest Friday of my life — and that’s a very bold statement to make.
I never thought this day would come. The day when Crocs announces they just might go out of business. Hallelujah!!!
I hate Crocs. I think they’re atrociously hideous – they’re like clown shoes but not funny. Bright pink, orange, green, purple, yellow screaming “LOOK AT MY FEET EVERYONE! LOOK AT THEM! I’M WEARING BIG PLASTIC BOZO BOOTS AND I LOOK LIKE AN IDIOT, BUT I’M COMFORTABLE!”
My disdain for Crocs is right up there with Nicholas Cage, accidentally chewing aluminum foil, people that talk with their eyes closed, captchas, and sweet potatoes. Everytime I see them I shudder and have to take a deep breath. Why would anyone want to wear these god-awful things? “Because they’re soooooo comfortable.” Right. So is a terrycloth bathrobe. Not acceptable to be worn in public. Period.
Long story short, I’ve been anti-Crocs since they first started popping up in hospitals, restaurants, and then streets all across the country. Today is a great day — but the day Crocs actually goes out of business, that will be an amazing day. When that day comes, you come see me for a frothy beverage, because that’s just cause for a celebration!
“They are to your eyes what second hand smoke is to your lungs” — Vincenzo Ravina, founder of Ihatecrocs.com