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Crocs’ independent accounting firm has “substantial doubt” about the future viability of the Niwot-based shoe company known for its brightly colored clogs as the company experienced revenue decreases and a $185 million net loss in 2008. Crocs on Tuesday disclosed the audit opinion from Deloitte & Touche in a Securities and Exchange Commission filing.
The opinion marks another hurdle for the company, which saw revenue growth in 2006 and 2007 but witnessed the gains fade last year. A Crocs spokeswoman declined to comment. Daily Camera
