Crocs possibly for sale

Footwear company Crocs Inc, is rumored be in the middle of talks with private equity firms about

going private. The company has hired investment bank Moelies & Co to investigate future possibilities, which include a leveraged buyout.

Reuters reported that an unnamed source revealed that Crocs held confidential discussions with a group of associations including Blackstone Group, LP and KKR & Co Lp. The sources also added that a number of the investment companies had lost interest in the possibility of a leveraged buyout because the arrangement was not financially appealing enough. Since the rumors started speculating about a possible sale, Croc share's have risen 9.5 percent.

Crocs, best known for their colorful clogs, reveal a 2 percent drop in sales for their third quarter, brought down by the struggling markets in Japan and the Americas. Last month John McCarvel, CEO at Crocs told analysts during a conference call concerning the company's earnings, "I wish I could tell you we were expecting a big improvement in consumer confidence in the U.S. throughout the year, but we are not.”

In ongoing attempts to boost sales, the company recently teamed with Australia's Melbourne Cup and collaborated with the 'world's cutest dog' known as Boo to create the latest Jibbitz shoe charm.