
By Corey Celt
The economy has already claimed the American automotive industry and the real estate market, and now it has its sights set on its next victim: Crocs. The bright, colorful clogs first burst onto the fashion scene in 2002 and since then have become a must-have trend for some and an eyesore for others. Since 2002, the company has outfitted nearly 100 million people with a pair of the comfy shoes. Many of the happy customers include super chef Mario Batali, 30 Seconds to Mars frontman Jared Leto and comedian Adam Sandler. Stars wear them everywhere from the streets of Los Angeles to the red carpet (as Sandler did in 2005 to the premiere of "The Longest Yard").
But the American makers of the wildly successful shoe company are fearful of a possible shot down if they company are not able to repay their debts by September, according to the Washington Post. A victim of the inevitable change in fashion and the recent economic downturn, the clog maker is finding that shoe may no longer fit.
(Check out more photos of stars in Crocs, including Adam Sandler, Mario Batali and Ian McKellan!)
As Crocs become a dying breed and Mario Batali seeks out another solution for wearing around the kitchen, there will certainly be less color and less comfort on the feet of the world — whether you thought they were fashion-forward or hideous.

Earlier this week, MTV News published an "in the studio" piece with 30 Seconds to Mars, in which they played us some new songs, gave us a tour of the facilities and talked in great detail about the ongoing $30 million breach-of-contract lawsuit filed by their former label, Virgin/EMI. This was the first time they'd done this, and needless to say, 30STM frontman/dreamboat Jared Leto was pleased with the results.
How do we know this? Well, because he said so, in the handwritten note he sent along with a dozen cupcakes from NYC's Sugar Sweet Sunshine bakery (there were even a few red-velvet ones in there, which only proves that he's got good taste). I’ve included a photo of said note — made out to myself and MTV News metal scribe Chris Harris — with this blog post, not just so you can scope Leto's penmanship (which is pretty great) and marvel at the fact that he spelled "grateful" correctly, but also to make you very jealous.
It was a very gracious gift, indeed, and we're very thankful to Jared and his 30STM pals. Not only did it make everyone in the MTV Newsroom feel just like Angela Chase on that one episode of "My So-Called Life" when Jordan Catalano gives her the "I'm Sorry" note (only this one was actually written by Jordan and not Brian Krakow), but the cupcakes made for a great "post-lunch, pre-3 p.m. coffee" pick-me-up. Oh, and before they were summarily devoured by hungry staffers, I managed to snap a photo of the cupcakes, which you can see after the jump.
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