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Forsberg calls time on shoe firm

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Forsberg calls time on shoe firm
12:39 CEST+02:00
Swedish ice hockey legend Peter Forsberg has announced the closure of his shoe firm Pforce which became synonymous with the Crocs brand of sandals in Sweden - known as "Foppatofflan" after the star's nickname.

"The company is to be cleaned up and the firm liquidated," former board member Anders Westman told the Dagens Industri (DI) business daily on Wednesday.

The firm enjoyed a roaring success a few years ago with profits of 5.5 million kronor ($744,000) in 2006 and 8.8 million kronor in 2007, followed up with two years of heavy losses after they lost the franchise for Crocs in Sweden.

Crocs became a must have among the masses in Sweden in 2006 and 2007 and their association with the hockey star led to them becoming known as "Foppatofflan" (literally: the Foppa slipper).

The lightweight sandals were heralded by many for their comfort and practicality but were derided by as many as a fashion faux-pas.

Pforce recorded losses totalling 11.1 million kronor in 2008, and 2.8 million kronor in 2009 on a turnover of 48.3 million kronor.

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