MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
LINEN SOURCE, INC. |
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Registered Office : |
5401 Hangar Court, Tampa, Florida 33634, United States |
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Country : |
United
States |
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Date of Incorporation : |
07.02.1990 |
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Legal Form : |
Corporation – Private |
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Line of Business : |
Engaged in the online retail sales and mail-order catalog of linens, rugs, window treatments, and other home décor items. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 : |
Regular
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company
Name : LINEN SOURCE,
INC.
Trade
Name(s) : LINEN
SOURCE.COM
Address : 5401 HANGAR
COURT
City :
TAMPA
State/Province : FLORIDA
Zip
Code :
33634
Country : UNITED
STATES
Telephone : 813 885-9549
Facsimile : 813
882-4605
Legal
Form :
Corporation - Private
Website :
www.linensource.com
Maj.
Shareholder : The
Franzblau Family
@rating
Opinion :
Business
Activity : The Company
is engaged in the online retail sales and mail-order catalog
of linens, rugs, window treatments, and
other home décor items.
Founded
(D/M/Y) : /
/1960
As
of :
Sales
/ Revenue :
Net
Income :
Total
Equity :
Number
of Employees : 200
NOTE TO CLIENT
The
ordered address (6422 Harney Road, Suite D) is a warehouse facility for the
Subject. The heading address is the Subject's headquarters.
The
Subject was contacted on November 27, 2006. Mr. Dick Kramer, Finance Director,
confirmed all information in this report.
LEGAL
Legal
Form :
Corporation - Private
Since
(D/M/Y) : 07/02/1990
State/Province
of Incorporation : FL
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
Florida
Profit: LINEN SOURCE, INC.
Document
Number : L48216
FEI
Number : 593001208
Date
Filed : 02/07/1990
State : FL
Status : ACTIVE
Registered
Agen : FRANZBLAN, R.M.
1102 CULBREATH ISLES DRIVE TAMPA, FL 33609
Managers/Key Personnel
Mr.
Robert M. Franzblau President
Mr.
Jo Franzblau Vice President
Mr.
Frank Hill Vice President
Ms.
Alix Franzblau Treasurer
Mr.
Carlo Franzblau Secretary
Mr.
Dick Kramer Financial Director
OWNERS
The
Franzblau Family
% Shareholder
AFFILIATED ENTITIES
THOMPSON
AND COMPANY OF TAMPA INC
5401
Hangar Court
Tampa,
FL 33634
CASUAL
LIVING U.S.A., INC.
5401
Hangar Court
Tampa,
FL 33634
BANKS
WACHOVIA
BANK
P.O.
BOX 50015
ROANOKE VA
24040
Telephone : 540 563-7363
Facsimile : 704 427-2477
Account
Number :
Account
Manager : Balance Confirmation Dept
A
reference could not be obtained based on bank policy.
PAYMENT HISTORY
BUSINESS DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
ADVERTISNG 06-10 00-00 NET 30
0 0 0
0 0 0 0 CUST
3 YR
AIR TRANS 06-10 00-00
0000000 3800 3800 100 0
0 0 0 CUST 12 YR
APPAREL 06-09 00-00
VARIED 29500 6700 100 0 0
0 0
BLDG MATRL 06-11 00-00 VARIED
0 0
0 0 0 0 0
CUST 6 YR
BUREAU 06-10 06-10
NET30 13800 3900 100 0 0
0 0 CUST 9 YR
FACTOR 06-09 00-00
VARIED 11300 0 0 0
0 0 0
FACTOR 06-10 06-10 NET
60 100400 67200 97 3
0 0 0
FREIGHT 06-09 06-03
VARIED 8700 0 0 0
0 0 0
GIFTWARE 06-10 00-10 NET
30 0 0 0 0
0 0 0 CUST 6 YR
GIFTWARE 06-10 00-00 NET
30 3500 3000 97 3
0 0 0
INDUS MACH 06-07 00-00 NET
12300 12300 100 0
0 0 0
INDUS MACH 06-07 00-00 NET 30
12300 12300 100 0
0 0 0
NEWSPAPERS 06-10 00-00 NET 30
4400 4100 100 0
0 0 0
PACKAGING 06-11 00-00 NET
30 0 0 0 0
0 0 0
TRANSPORTN 06-09 00-00 NET 30
0 0 0
0 0 0 0 CUST <
1 Y
AIR TRANS 05-12 00-00 NET
30 100 0 0 0
0 0 0 CUST 7 YR
BUS SERVCS 04-01 03-12 NET 30
3600 3600 100 0
0 0 0
COMPUTERS 04-02 00-00 NET
30 0 0 0
0 0 0 0
FACTOR 05-05 05-05
VARIED 28100 11900 18 82
0 0 0 7 DAYS LAT
FINCL SVCS 05-04 04-09 NET30
0 0 0
0 0 0 0
FRGHT FWRD 05-10 05-10 VARIED
100 100 100 0
0 0 0
GIFTWARE 04-08 04-07 300 300 0 100 0
0 0
HOUSEWARES 06-04 98-09 VARIED
0 0 0
0 0 0 0
HOUSEWARES 04-12 04-09 VARIED
100 100 0
0 100 0 0
TRANSPORTN 04-11 00-00 VARIED
34400 0 0
0 0 0 0
CURRENT
QUARTER 200000 113300
98 2 0 0 0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- --- --- ---
20061100 0 5 0 113300 98
2 0 0 0
20061000 0 5 3 137600 79
21 0 0 0
20060900 0 5 0 75700 100 0
0 0 0
20060800 0 6 14
65500 87 0 0 0
13
20060700 0 5 13 29900 69
2 29 0 0
20060600 0 5 1 13200 93
7 0 0 0
Payment History - Quarterly Averages
BALANCE CUR
1- 31- 61-
QUARTER YEAR DBT $ % 30
60 90 91+
-------- ------
--- -------- --- --- ---
--- ---
Third 2006 5 92900 87 10
0 0 3
Second 2006 7 20400 80 6
14 0 0
First 2006 5 17800 94 2
0 0 4
Fourth 2005 3 37600 89 9
0 1 1
Third 2005 0 31700 99 1
0 0 0
FINANCIAL INFORMATION
Fiscal
Year End: 12/31.
Management
would not disclose any financial information when contacted citing
confidentiality.
As
a privately held company, the Subject is not required to file financial
statements for public review.
CURRENT OPERATIONS
NAICS
Code :
45411 Electronic Shopping and
Mail-Order Houses
SIC
Code : 5961
Number
of Employees : 200
Business Activity
The
Company is engaged in the online retail sales and mail-order catalog of linens,
rugs, window treatments, and other home décor items.
The
heading address is the Subject's headquarters. The Subject has several
warehouse facilities located in Florida.
PUBLIC RECORD
A
search of public shows no suits, judgments or liens filed against the subject.
We have also conducted a nationwide search with bankruptcy courts, which have
revealed no record of a firm by this name filing for bankruptcy.
GENERAL COMMENTS
LINEN
SOURCE, INC. is engaged in the online retail sales and mail-order catalog of
linens, rugs, window treatments, and other home decor items. The Subject's
payment history is reported to be satisfactory. Management provided operating
details, but declined to provide financial information. We know the Company to
be of good legal standing and considered responsible for normal business
transactions.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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