Deathwatch: Crocs (Hurrah!)
Once upon a time, back in the last decade, Crocs became a thing, as the comfy waterproof clog-styled footwear-eyesores were bloody everywhere.
Today, they are looking at laying off 180 staff and closing 100 stores worldwide.
And no wonder. Look at them. Completely vile.
The company's profits slumped more than 40% last year, with outlets in America and Asia noticing a big slump, whereas over in Europe there's been a mild growth.
The company plans to simplify its range to save $10 million, although one would motion that they could simplify it easily enough by destroying every trace of Crocs in the universe.
Six months ago, Blackstone, the private equity firm, invested £117m in a 13.5% stake in the company, which has about 600 stores around the world, including three in the UK. They won't be happy.
Andrew Rees, the Croc president, said: "We have a clear, well-defined strategy for addressing these issues and improving performance. Work is under way already to drive significant change throughout our company."
Originally conceived as a sort-of boat shoe, Crocs came to attention when the likes of Jack Nicholson and George Bush started hoofing about in a pair.
By 2009, profits took a dive, as everyone saw sense and went "URGH GET THEM AWAY FROM ME".