First, the footwear brand appeared to be in serious financial trouble when its stock price plummeted. Then, the plastic clogs were declared a fashion no-no for Yom Kippur.
But, alas, brightly-colored plastic shoe lovers can rejoice -- Crocs has secured a $30 million revolving loan with PNC Financial Services Group, as reported by Reuters.
The company's chief financial officer, Russ Hammer, tells the site that this loan will provide the company with the cushion it needs to bounce back from the downturn.
And since you can't mention Crocs -- certainly not orange ones -- without thinking of chef extraordinaire Mario Batali, we were beyond curious to know what the perma-Crocs wearer had to say.
Batali told StyleList, "Their sheer comfort will always overrule fashionistas, religious fanatics and banking doomsayers. Crocs is here to stay."
Looks like the recession is turning a corner. Check out other fashion companies that are on the uptick.