Designer Catherine Malandrino’s cancelation of her presentation during September Fashion Week has prompted rumors of business turmoil. Her company this spring had been in talks with clothing conglomerate Kellwood to acquire the brand, but a deal never materialized. Malandrino had been scheduled to hold her presentation on Sept. 11, but a rep says the company “is in a time of transition. We’re refocusing, and we’ll be back in February.” Malandrino will stage a runway show sponsored by Clairol and Covergirl on Sept. 8, the day of Fashion’s Night Out, featuring looks already in her boutiques styled by June Ambrose.