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Things are not looking good for LA luxe leather, knitwear and (recently) shoe label Mike & Chris. We hear from ShoeGuru via Racked NY that the label has been purchased by Green Mochi LLC: "Mike&Chris (M&C Apparel Group Inc.)...has apparently gone under...Suppliers have been floundering, calling past employees for information on the company’s owner, CEO Michael Gonzalez (who’s cell phone has been disconnected) to collect past due invoices...ShoeGuru’s source said that here in the US, M&C owes one factor upwards of $3million. At least three Italian suppliers were not payed invoices for goods and services rendered from as far back as March 2008 for their Fall 08 and Spring 09 shoe collections." [ShoeGuru via Racked NY]