The Chronic Consumer

I have never, ever owned a pair of Crocs, and think they are just about the ugliest footwear on the planet. Fortunately for me — but not so good for the company — they might not be around much longer. It seems that the fad is finally over, after seven long years.

I just read an article on the Washington Post website about how Crocs lost $185.1 million last year, cut 2,000 jobs, and is now stuck with a massive surplus of shoes that simply aren’t selling. Now the company has “millions” in debt, which must be paid off by September — an unlikely scenario.

This is another example of a company that got too big too fast. They sold 100 million pairs of shoes in seven years, but now demand is practically nonexistent. Yet they’re stuck with all the extra manufacturing and distribution centers they built to keep up with initial demand.

Man, this economy sucks. But seriously, I’m not going to miss seeing Crocs around. Are you?