The foam clog company that everyone loves to hate, Crocs, may be on their last legs. It appears the economic downturn has hit them hard, and their stock has plummeted 76 percent since it’s heyday as the great equalizer of shoes: it seemed as though just about everyone had a pair—even our former president.

In the last year, the company showed losses of $185.1 million, way down from the profit of $168.2 in 2007. Part of the problem with the company’s losses may be the quality of the product—the clogs hold up so well that consumers don’t feel the need to replace them quite as often. In the last year they have expanded their product line to include more ‘shoe-like’ designs, even a few high-heeled models, in what appears to have been an effort to capitalize on their popularity. Looks like it may not have worked out so well, though.

I’ll be honest—I do own a pair of Crocs. They make great camp shoes, are lightweight and easy to pack. And while they are comfortable (at one point they were the only shoe I could wear after a minor foot surgery), they are by far the least flattering shoes in my closet.

Chief executive John Duerden believes that these financial losses do not signify the end to the Crocs brand. Marketing the clog to medical professionals, caterers, and people with foot problems is his next plan on the road to recovery for the company.

Read more about the story at the Washington Post.