MIRA
INFORM REPORT
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Report Date : |
3rd
June 2006 |
IDENTIFICATION DETAILS
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Name : |
M. FABRIKANT & SONS, INC. |
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Registered Office : |
1
Rockefeller Plaza 28th Floor New
York, 10020 United States |
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Country : |
United
States |
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Date of Incorporation : |
05/08/1959 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Wholesaler, distributor and retailer of fine jewelry and diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Exists |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name :
M. FABRIKANT & SONS, INC.
Trade Name(s) :
FABRIKANT, SUZY FABRIKANT
Address :
1 Rockefeller Plaza 28th Floor
City :
NEW YORK
State/Province :
NEW YORK
Zip Code :
10020
Country :
UNITED STATES
Telephone :
212 757-0790
Facsimile :
212 582-6866
Legal Form :
Corporation - Private
Website :
www.fabrikant.com
Maj. Shareholder :
Mr. Charles Fortgang
As
of :
Sales
/ Revenue :
Net
Income :
Total
Equity :
Number of Employees
: 800
Business Activity:
The Firm is a wholesaler, distributor and retailer
of fine jewelry and diamonds.
NOTE TO CLIENT
Person Contacted: Mr. Eric Sonenblum, Chief
Financial Officer.
Mr. Soneblum declined to provided very general
information, therefore the details in this report could not be confirmed. A
written inquiry was sent via fax, if Mr. Soneblum responds the report will be
updated.
LEGAL
Legal Form: Corporation - Private
Since (D/M/Y):
05/08/1959
State/Province of Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual
financial report.
The Firm is incorporated in New York under the
following registration:
Current Entity Name: M.
FABRIKANT & SONS, INC.
Initial DOS Filing Date: AUGUST
05, 1959
County: NEW
YORK
Jurisdiction: NEW
YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information DOS Process
JENKENS
& GILCHRIST PARKER CHAPIN LLP
ATTN:
MICHAEL SHEF
405
LEXINGOTN AVE
NEW
YORK, NEW YORK, 10174
Principal Executive Office
M.
FABRIKANT & SONS, INC.
ONE
ROCKEFELLER PLAZA
NEW
YORK, NEW YORK, 10020
Registered Agent: NONE
Managers/Key Personnel
Mr. Charles Fortgang Chairman
Of The Board Of Directors
Mr. Matthew F. Fortgang President
& CEO
Mr. Michael Shaffet Chief
Operating Officer
Mr. Eric Sonenblum Chief Financial Officer
OWNERS
Mr. Charles Fortgang % Majority
AFFILIATED ENTITIES
The following companies are believed to be
affiliated to the Firm:
Leer Tokyo Pearl
Brilliant Trading Company & Fancy Trading Company
Clover Corp.
Fabrikant-Leer International
Overseas Direct
Robert Lee Morris
Royal Asscher
Simmons Jewelry Co.
SHR
Suzy Fabrikant
Alpha Diamond Company
Clover - Canada
CRP Limited - Thailand
Diamfab p.v.b.a.
Fabrikant Commonwealth Trading Inc. - Canada
Fabrikant Hong Kong Ltd.
Fabrikant Japan, Inc.
Fabrikant &
Salant Ltd. - Israel
Fabrikant &
Salant Ltd. - South Africa
Fabrikant Tolkowsky Kunstler – Antwerp, Belgium
Fabrikant Japan
M. Fabrikant &
Sons - India
Tara Jewelers Exp Pvt Ltd. - India
Management declined to confirm and elaborate the
companies affiliation to the Firm.
BANKS
J.P. MORGAN CHASE BANK
510 FIFTH AVENUE
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
The bank requires an account number which could not
be obtained from management.
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
AIR TRANS 05-12 00-00 NET 30
100 0 0
0 0 0 0 CUST
3 YR
BUREAU 05-12 05-12 NET30
0 0 0
0 0 0 0 CUST 14 YR
BUS SERVCS 05-12 00-00 NET 7 2600
2600 12 0
35 24 29
CELLUL/PAG 06-01 06-01 NET 30 900
400 100 0 0
0 0 CUST 1 YR
FACTOR 05-12 00-00 VARIED
0 0 0
0 0 0 0
MANUFCTRNG 05-10 00-00 UNK 0
0 0 0
0 0 0
PACKAGING 06-02 00-00 NET 30 0 0 0 0 0
0 0 CUST 4 YR
SAFTY PROD 05-12 00-00 NET 30 0
0 0 0
0 0 0 CUST 5 YR
WAREHOUSE 06-01 05-05 VARIED
200 100 0
0 0 0 100 CUST 2 YR
BUS SERVCS 04-02 02-12 NET 30 100
0 0 0
0 0 0
BUS SERVCS 05-03 05-03 NET 30 0
0 0 0
0 0 0
COMPUTERS 04-02 00-00 NET 30 0 0 0 0 0
0 0
COMPUTERS 03-02 00-06 MULTI 0 0 0 0 0
0 0
LEASING 05-12 00-00 CONTRCT 15900
10900 50 50 0 0
0
OFFC SUPPL 05-07 05-05 NET 200
200 0 0
0 0 100
OFFC EQUIP 03-04 00-00 NET 30 0
0 0 0
0 0 0 CUST 6 YR
TELECOM 06-01 01-05 NET 30
1000 0 0
0 0 0 0 CUST 28 YR
TELECOM 06-01 99-11 NET 30
700 0 0
0 0 0 0 WRITE-OFF
TELECOM 05-12 99-01 NET 30
300 0 0
0 0 0 0 CUST 30 YR
TELECOM 04-06 00-04 NET EOM 700
0 0 0
0 0 0 WRITE-OFF
CURRENT QUARTER 3800 3100 23 0
30 21 26
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060100 0 5 54 3300 26
0 29 20 25
20051200 0 5 31 2900 50 0
22 27 1
20051100 0 5 21 1800 55 0
43 0 2
20051000 0 5 24 1600 49 0
49 2 0
20050900 0 5 1 1400 98 0
2 0 0
20050800 0 5 29 2200 35 1
64 0 0
Payment History - Quarterly Averages
BALANCE CUR 1-
31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
Fourth
2005 39 2700 41 0 30
18 11
Third
2005 20 1700 55 1 43
1 0
Second
2005 13 1200 71 0
29 0 0
First
2005 0 0 0 0 0
0 0
Fourth
2004 0 0 0 0 0
0 0
FINANCIAL INFORMATION
Mr. Sonenblum declined to provide any financial
details, however an outside source reports the gross annual sales for the Firm
and its affiliated companies to be in the US$ 900 million range. Mr. Sonenblum
declined to confirm this information. A written inquiry was sent via fax and if
Mr. Sonenblum responds the report will be updated at that time.
HISTORY
The Firm was founded in 1895 in New York.
CURRENT OPERATIONS
NAICS Code:
44831 Jewelry Stores
SIC Code:
5944
Number of Employees: 800
Business Activity:
The Firm is a wholesaler, distributor and retailer
of fine jewelry and diamonds.
The Firm's product line includes the finished
jewlery product,as well as loose
diamonds of a variety of qualities and sizes. The
Firm's retailers include large
names such as WAL-MART. The Firm distributes across
the United States, as well as internationally. The Firm is exclusive
distributor of Royal Asscher cut
diamonds in the United States and Canada.
The provided address is the headquarters for the
Firm. The Firm also has a
branch location in Bentonville, Arkansas.
PUBLIC RECORD
Name Searched: M FABRIKANT & SONS
Amount: $ 240,463
Attorney: NATHANSON DEVACK AND MEMMOLI LLP
Creditor: M FABRIKANT AND SONS INC
NEW YORK, NY 10020
Debtors: GALIT DIAMOND INC
580 FIFTH AV
NEW YORK, NY 10036
Docket Number: 001931217
Filing Date: 12/8/2004
Type: JUDGMENT
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Name Searched: M FABRIKANT & SONS
Defendant Counsel: UNKNOWN
Defendant: M FABRIKANT & SONS INC
Plaintiff Counsel: SONNENSCHEIN NATH & ROSENTHAL
1221 AVENUE OF AMERICAN
NEW YORK, NEW YORK 10020
1-212 398-5810
Plaintiff: FREDERICK GOLDMAN INC
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Name Searched: M FABRIKANT & SONS
Defendant Counsel: UNKNOWN
Defendant: M FABRIKANT & SONS INC
Plaintiff Counsel: LIFSHUTZ POLLAND & ASOCIATES
675 THIRD AVENUE
NEW YORK, NEW YORK 10017
212 949-8484
Plaintiff: EMIL KREIS & CO
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Name Searched: M FABRIKANT & SONS
Debtor Address: M.FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10020
Secured Parties: ANTWERPSE DIAMANT BANK, N.V.
Filing Date: 11/12/2004
Filing Number: 0411121141831
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: M. FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10020
Secured Parties: FLEET BANK, NATIONAL ASSOCIATION
(acquired by Bank of America)
Filing Date: 10/29/2004
Filing Number: 0410291092271
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: M. FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10020
Secured Parties: ABN AMRO BANK N.V.
Filing Date: 11/3/2004
Filing Number: 0411031106965
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: M. FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10022
Secured Parties: JPMORGAN CHASE BANK
Filing Date: 11/9/2004
Filing Number: 0411091130312
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: M. FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10022
Secured Parties: JPMORGAN CHASE BANK, AS AGENT
Filing Date: 5/26/2005
Filing Number: 0505260641561
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: MANNS JEWELERS, INC.
2945 MONROE AVENUE
ROCHESTER, NY 14618-4692
Secured Parties: M. FABRIKANT & SONS INC
Filing Date: 12/13/2005
Filing Number: 0512136088434
Filing Type: INITIAL FILING
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Name Searched: M FABRIKANT & SONS
Debtor Address: M. FABRIKANT & SONS, INC.
ONE ROCKEFELLER PLAZA
NEW YORK, NY 10020
Secured Parties: HSBC BANK USA, NATIONAL
ASSOCIATION
Filing Date: 10/6/2004
Filing Number: 0410065839548
Filing Type: INITIAL FILING
Name Searched: M FABRIKANT & SONS
Creditor: M FABRIKANT AND SONS INC
Debtors: RIVIER GEMS LTD
Docket Number: 0162322004
Filing Date: 11/23/2004
Type: CIVIL SUMMONS
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Name Searched: M FABRIKANT & SONS
Case Name: SANABRIA, CYNTHIA
v.
M. FABRIKANT &
SONS , INC. & DAVID BROWN
Defendant Counsel: JACKSON LEWIS LLP
58 SOUTH SERVICE ROAD-STE.410
MELVILLE, NEW YORK 11747
1-631 247-0404
Plaintiff Counsel: ALTERMAN & BOOP, P.C.
35 WORTH STREET 3RD FLOOR
NEW YORK, NEW YORK 10013
212 226-2800
Status: ACTIVE
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No bankruptcy petitions were traced to the Firm,
however there are several legal actions filed in public which are displayed
above for you review. The outcome of those actions are unclear as no further
information is currently
available.
GENERAL COMMENTS
The Firm is an old, well established wholesaler,
distributor and retailer of fine jewelry and loose diamonds. Suppliers report
some write-offs and late payments. There are legal actions filed against the
Firm, the status is uncertain as no further information is currently available
at this time. The Firm is considered responsible for normal trade relations.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |