Sold out label not showing on individual colour variants

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So I've got an issue with our sold out label on the collection page.

When a colour variant of a product is sold out, it only seems to show the sold out label if all the colours of the product are sold out as well.... and for products with one colour variant, it doesn't show anything. 

Does anyone know how to make it so the sold out label only shows on colour variants which are sold out?

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