This happy news just in via @thefoodsection: Crocs will stay in business. And thus Mario Batali (Mozza, Babbo, empire) will not need to switch to Birkenstocks, for which we are all grateful. On Wednesday the troubled shoe company, which has been trying to orchestrate a turnaround (you try pirouetting in those shoes), announced that it had secured up to $30 million in revolving loans with PNC Financial Services Group Inc. and could return to profitability next year.
When asked to comment, Batali said, “Their sheer comfort will always overrule fashionistas, religious fanatics and banking doomsayers. Crocs is here to stay.”