MIRA
INFORM REPORT
|
Report Date : |
11.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
WINGS MANUFACTURING CORPORATION |
|
|
|
|
Registered Office : |
1407 Broadway, Suite 1807, New York, 10018 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
10/01/1979 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
Wholesaler of garments. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: WINGS
MANUFACTURING CORPORATION
Trade Name(s): Wing
Wear
Cotton Express
Address: 1407
BROADWAY, SUITE 1807
City: NEW YORK
State/Province: NEW
YORK
Zip Code: 10018
Country: UNITED
STATES
Telephone: 212
921-4588
Facsimile: 212
869-5047
As of: 31/12/2005
Sales / Revenue: 35,000,000
Net Income:
Total Equity:
Number of Employees: 65
Legal Form: Corporation
- Private
Website: No
website
Business Activity: The Company is wholesaler of garments.
note to client
REGARDING A REQUEST FOR
WINGS MANUFACTURING CORPORATION DESIGN STUDIO, THIS IS A BRANCH LOCATION OF
WINGS MANUFACTURING CORPORATION FOR WHICH A REPORT FOLLOWS.
The requested address 40
West 39th St. is a branch location. The heading address is the corporate headquarters.
---
In August of 2006 Mr.
Shanker Iyer, then Controller, provided the information in this report. Mr.
Shanker has since left the Company. In our recent attempt to speak with
management a director, name and title not disclosed, declined to comment on the
Company. Information could not be verified as current.
legal
Legal Form: Corporation –
Private
Since (D/M/Y): 10/01/1979
State/Province of
Incorporation: NY
Status: ACTIVE
Previous Legal Form:
Company is NOT required
to publish an annual financial report.
Current Entity Name:
WINGS MANUFACTURING CORPORATION
Initial DOS Filing Date:
JANUARY 10, 1979
County: NEW YORK
Jurisdiction: NEW YORK
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity Status:
ACTIVE
Selected Entity Address
Information DOS Process
WINGS MANUFACTURING
CORPORATION M SINGH
729 MADISON ST
HOBOKEN, NEW JERSEY,
07030
Principal Executive Office
M SINGH
729 MADISON ST
HOBOKEN, NEW JERSEY,
07030
Registered Agent NONE
Managers/Key
Personnel
Mr. Manmohan Singh President
Subsidiary:
Jazzman Sportswear
Corporation New Jersey
BANKS
Israel Discount Bank
NY
Telephone: 212-551-8605
Facsimile: 212-551-8194
Account Number:
Account Manager: John M.
Broderick
We
have contacted the bank which stated that it requires signed authorization from the Company allowing the
release of any account information. We have sent the Company a request form
to sign and forward to the bank but
have not received a response.
PAYMENT HISTORY
The Subject has not
established a significant payment history at this time.
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2005 31/12/2005 31/12/2005
Consolidated
Sales / Revenues 35,000,000 - -
In August of 2006
indicated an annual net sales figure of US
$35,000,000. Current information was not available.
CURRENT OPERATIONS
NAICS Code: 4481
Clothing Stores
Number of Employees: 65
Business Activity:
The Company is wholesaler
of garments.
The heading address is
the Company's headquarters, the Subject also has branches at the following locations:
Wings Manufacturing
Corporation
15 Wilkinson Ave
Jersey City, NJ
201 521-0800
--------------
40 West 39th St.
New York, NY
TRADE REFERENCES
NAME: AMERICAN SHIPPING COMPANY BUSINESS
ADDRESS: Englewood Cliffs, NJ
PHONE: 201 585-1800
FAX: 201 947-7875
Date Account Opened:
3/5/99
No further information
was provided.
PUBLIC RECORD
We found no evidence of
bankruptcy filed in the Subject's name.
Debtor Address: WINGS
MANUFACTURING CORPORATION
Secured Parties: FLEET
NATIONAL BANK ISRAEL DISCOUNT BANK OF NEW YORK ATTENTION:
LEGAL DEPARTMENT
(ASSIGNEE)
Filing Date: 2/4/2003
Filing Number:
0302040256950
Filing Type: ASSIGNMENT
Original Filing Number:
96211984
Debtor Address: WINGS
MANUFACTURING CORPORATION
1407 BROADWAY - SUITE
1807
NEW YORK, NY 10018
Secured Parties: FLEET
NATIONAL BANK SUCCESSOR BY MERGER TO SUMMIT BANK
Filing Date:
4/30/2001
Filing Number:
01083374
Filing Type: CONTINUATION
Original Filing Number:
96211984
Debtor Address: WINGS
MANUFACTURING CORPORATION
1407 BROADWAY
NEW YORK, NY 10018
Secured Parties: HSBC
BUSINESS CREDIT (USA) INC.
Filing Date: 12/4/2002
Filing Number:
0212042699896
Filing Type: AMENDMENT
Original Filing Number:
02095439
Debtor Address: WINGS
MANUFACTURING CORPORATION
170 LAFAYETTE STREET JERSEY CITY, NJ 07304
WINGS MANUFACTURING
CORPORATION
729 MADISON STREET
HOBOKEN, NJ 07030
Secured Parties: ISRAEL
DISCOUNT BANK OF NEW YORK
Filing Date:
12/12/2003
Filing Number:
0312125589768
Filing Type:
AMENDMENT
Original Filing Number:
0302040258726
Debtor Address: WINGS
MANUFACTURING CORPORATION
170 LAFAYETTE STREET JERSEY CITY, NJ 07304
Secured Parties: ISRAEL
DISCOUNT BANK OF NEW YORK SUMMIT BANK
Filing Date:
12/15/2003
Filing Number:
0312151967320
Filing Type: INITIAL
FILING
Debtor Address: WINGS
MANUFACTURING CORPORATION
1407 BROADWAY, SUITE 1807
NEW YORK, NY 10018
Secured Parties: DCD
TRADE SERVICES, LLC
Filing Date: 6/12/2002
Filing Number:
02136403
Filing Type: INITIAL
FILING
Debtor Address: WINGS
MANUFACTURING CORPORATION
452 FIFTH AVENUE
NEW YORK, NY 10018
Secured Parties: HSBC
BUSINESS CREDIT (USA) INC.
Filing Date: 4/25/2002
Filing Number: 02095439
Filing Type: INITIAL
FILING
Debtor Address: WINGS
MANUFACTURING CORPORATION
Secured Parties: FLEET
NATIONAL BANK ISRAEL DISCOUNT BANK OF NEW YORK ATTENTION:
LEGAL DEPARTMENT
(ASSIGNEE)
Filing Date: 2/4/2003
Filing Number:
0302040256924
Filing Type: ASSIGNMENT
Original Filing Number:
02096928
Debtor Address: WINGS
MANUFACTURING CORPORATION
170 LAFAYETTE STREET JERSEY CITY, NJ 07304
WINGS MANUFACTURING
CORPORATION
729 MADISON STREET
HOBOKEN, NJ 07030
Secured Parties: FLEET NATIONAL
BANK ISRAEL DISCOUNT BANK OF NEW YORK SUMMIT
BANK
Filing Date: 12/12/2003
Filing Number:
0312125589972
Filing Type:
AMENDMENT
Original Filing Number:
02096928
Debtor Address: WINGS
MANUFACTURING CORPORATION
729 MADISON STREET
HOBOKEN, NJ 07030
Secured Parties: FLEET
NATIONAL BANK SUMMIT BANK (ASSIGNEE)
Filing Date:
4/26/2002
Filing Number:
02096928
Filing Type: INITIAL
FILING
Defendant Counsel:
Lupkin, Jonathan Daniel [COR LD NTC]
Dla Piper Rudnick Gray Cary US LLP(NYC)
1251 Avenue of the
Americas
New York, NY, USA 10020
212-835-6162
Fax: 212-884-8462
Email:
Jonathan.lupkin@dlapiper.com
Defendant: Wings
Manufacturing Corporation Sethi,
Maninder Sethi, Loveleen Sethi, Jitender Leena Denim Limited Formerly Known as Leena Enterprises John Doe's 1-10 Jazzman Sportswear Corporation
Eshman Holdings Limited
Filing Date: 5/31/2005
Filing Type: Civil
Plaintiff: United States
Philips Corporation
Debtor Address: HSBC
BUSINESS CREDIT (USA) INC.
1407 BROADWAY
NEW YORK, NY 10018
WINGS MANUFACTURING
CORPORATION
170 LAFAYETTE STREET
JERSEY CITY, NJ 07304
WINGS MANUFACTURING
CORPORATION
452 FIFTH AVENUE
NEW YORK, NY 10018
Secured Parties: HSBC
Filing Date: 10/2/2006
Filing Number:
0610025960743
Filing Type: AMENDMENT
Original Filing Number:
02095439
GENERAL COMMENTS
Founded in 1979, the
Company is a well-established wholesaler of garments. No payment were found and a search of public
records returned no derogatory
information and there is no record of the Company filing for bankruptcy following a nationwide search of bankruptcy
courts. The Subject appears capable of
good trade relations.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)