Whether you marveled at their functionality or winced at their quirky design, the future of the little foam wonder shoes called Crocs hangs in the balance.
Once the darling of a booming economy, the manufacturer sold a remarkable 100 million pairs of the cheap, comfortable clog in just seven years. But that was then.
The company lost a whopping $185.1 million in 2008 and was forced to cut 2,000 jobs, the Washington Post reports.
A victim of the recession, the company has spent much of 2009 scrambling to find a way to pay down its millions of dollars of debt. After expanding as fast as they could to meet consumer demand, executives are also now scratching their heads over what to do with a surplus of shoes.
Perhaps the biggest "problem" with Crocs? Their high quality. Designed to be practically indestructible, consumers apparently find little need to ever buy a second pair.
But while one expert told the Post that the company is “dead and they don’t know it,” CEO John Duerden isn’t quite ready to throw in the towel.
"The bottom line is, people talk about Crocs," he said. "They either love them or hate them, but it's in the vernacular."
As were Hammer pants.