Crocs could be coming to an end.

March 24, 2009 – 7:26 pm – No Comment

The auditor for Crocs (those ridiculously ugly plastic shoes that people have no business wearing outside the garden or on rainy day) has said that it has “substantial doubt” that the shoe company will last.

However, there may still be some hope for the company. If it can successfully market its other style of shoes then perhaps they can “drum up” some demand.

The company was trading at $70 last year, but has fallen to just over $1 a share now.

The number of footwear units sold fell 24.7 percent over the year, the filing said. The company blamed deteriorating global economic conditions, falling demand and difficulty marketing its expanded product line.

Crocs said it must secure financing and maintain enough liquidity to pay obligations. It said it has $22.4 million in borrowings under a loan that matures April 2. As of Dec. 31, it had $51.6 million in cash and cash equivalents.

Through the end of 2007, Crocs grew so quickly it had difficulty meeting demand for its colorful, lightweight shoes, the company said in the SEC filing. It boosted production capacity, warehouse space and inventory, but revenue growth slid in 2008.

Here are some of the other shoes that Crocs has to offer for Women: