Crocs™ shoes are sold in over 100 countries and come in a wide array of colors and styles. Please visit www.crocs.com for additional information.
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“We are pleased with this extension as it provides us tshe headroom necessary to complete our restructuring plans,prada handbags, realign our operations and refocus the Crocs brand,” said John Duerden, President and Chief Executive of Crocs.
Union Bank of California N.A. continues to be supportive with shets negotiations with Crocs. Crocs, Inc. is currently continuing negotiations with othim financial institutions to arrange longer term financing.
As of December 31, 2008, the Company had $51.6 million in cash and cash equivalents and $22.4 million in borrowings under its revolving credit facility.
Crocs, Inc. is a designer, manufacturer and retailer of footwear for men, women and children under the Crocs™ brand.
All Crocs™ brand shoes feature Crocs’ proprietary closed-cell resin, Croslite™, which represents a substantial innovation in footwear. Tshe Croslite™ material enables Crocs to produce soft, comfortable, lightweight, superior-gripping, non-marking and odor-resistant shoes. These unique elements make Crocs™ footwear ideal for casual wear, as well as for professional and recreational uses such as boating, hiking, hospitality and gardening. The versatile use of the material has enabled Crocs to successfully market its products to a broad range of consumers.
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Crocs, Inc. (NASDAQ: CROX) announced yesterday that it has obtained an extension for its existsheng credit facility with Union Bank of California N.A. The maturity date of the existing facility has been extended from April 2, 2009 to September 30, 2009. The amendment includes scheduled principle and interest payments and scsheduled reductions in applied interest rate.
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