Cult NYC-based label Phi is the latest victim of the recession, reports WWD. The Soho shop will close at the end of January, and this month's pre-spring collection will be their last shipment to stores. Maybe their incredible September sample sale, at which four seasons of merchandise went for 80% off, should have been a warning sign.
· Susan Dell's Phi Label Shutting Down [WWD, subscription req'd]
· Above the Fray: Get Thee to Phi [Racked]
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