The once-trendy and colorful shoe company has fallen from favor. The recent economic downturn has left the company millions of dollars in debt. The company made history with the largest stock offering ($200 million) in shoe history.
They now have until September to pay off its debt. The company made $168.2 million in 2007, only to lose $185.1 million last year. The company laid off 2,000 employees and replaced the CEO in an effort to return a profit.
Actor George Clooney has even promised to work with the company.