Mike & Chris "Restructuring," Future of Label is Uncertain

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We've just got some breaking news across the wire about Mike & Chris, the Cali label that didn't show up for their NYC sample sale this morning, and it isn't good.

Rumors fly that the company is going belly up. And while we reached a sales director who denied this claim, a Racked source says some employees at the company haven't been paid.

No one is picking up at the brand's New York showroom, but the sales director we spoke with at their California showroom assured us that the company isn't folding. Instead, she says that the company is "restructuring."

MORE INFO ON RACKED NY, PLUS UPDATE AND RESPONSE FROM MIKE & CHRIS FLATLY DENYING RESTRUCTURING, CLOSING "Ominously, all contact information has been removed..."