MIRA
INFORM REPORT
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Report Date : |
19.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
WESTPOINT HOME,
INC. |
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Registered Office : |
28 East 28th
Street, New York, 10016 |
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Country : |
United States |
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Date of Incorporation : |
25/02/2005 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Manufacturer of
bed and bath linens. |
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: WESTPOINT
HOME, INC.
Address: 28
EAST 28TH STREET
City: NEW YORK
State/Province: NEW
YORK
Zip Code: 10016
Country: UNITED
STATES
Telephone: 212
930-2000
Facsimile: 212
679-2931
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
6,700
Legal Form: Corporation
- Private
Website: www.martex.com
Business Activity: WESTPOINT HOME, INC., is a manufacturer
of bed and bath linens.
NOTE TO CLIENT
Contact Person: Mr. Michael Newson
Position: Financial Controller
Mr. Michael
Newsonall suggested a written request for all general information and financial
details; citing confidentiality. As a
result, the information in this report was retrieved from outside source and
could not be confirmed.
The employee number
was retrieved from the website.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 25/02/2005
State/Province of
Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
incorporated in the state of Delaware under the following registration:
THIS IS NOT A
STATEMENT OF GOOD STANDING
Entity Name: WESTPOINT HOME, INC.
File Number: 3931654
Incorporation Date
/ Formation Date: 02/25/2005
Entity Kind: CORPORATION
Entity Type: GENERAL
Residency: DOMESTIC
State: DE
REGISTERED AGENT INFORMATION
Name: CORPORATION SERVICE COMPANY
Address: 2711
CENTERVILLE ROAD SUITE 400
City: WILMINGTON
County: NEW
CASTLE
State: DE
Postal Code: 19808
Phone: (302)636-5401
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The Company is
authorized to conduct business in the state of New York under the following
registration:
Entity Name: WESTPOINT HOME, INC.
Entity Status
Information: Current
Initial DOS Filing
Date: AUGUST 08, 2005
County: NEW YORK
Jurisdiction: DELAWARE
Entity Type: FOREIGN BUSINESS CORPORATION
Current Entity
Status: ACTIVE
Selected Entity
Address Information DOS Process (Address to which DOS will mail process if
accepted on behalf of the entity)
C/O CORPORATION
SERVICE COMPANY
80 STATE STREET
ALBANY, NEW YORK,
12207
Registered Agent
CORPORATION SERVICE
COMPANY
80 STATE STREET
ALBANY, NEW YORK,
12207
NOTE: New York State
does not issue organizational identification numbers.
Managers/Key
Personnel
Mr. Joseph Pennacchio President
AFFILIATED ENTITIES
WestPoint Home
Stores, LLC
BANKS
NY
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of the
primary bank could not be obtained directly from management.
PAYMENT HISTORY
A payment record
could not be developed for the headquarter address above.
The following
payment record was retrieved for the West Point, GA manufacturing plant.
BUSINESS
DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY
REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
CHEMICALS
07-01 06-12 NET 30 7100 800
100 0 0 0
0
ELEC SUPLR 07-04 00-00 N10PRXO 5500 600
100 0 0 0
0 7 DAYS LAT
FACTOR
07-02 00-00 VARIED 48200 4700
0 100 0 0
0
FACTOR
06-12 06-01 NET 60 315700 0
0 0 0 0 0
GIFTWARE
07-04 07-03 NET 30 7500 2500
77 23 0 0 0
CUST 2 YR
MACH DISTR 07-01 07-01 1/10N30 600 0
0 0 0 0 0
CUST 5 YR
OFFC SUPPL 07-03 07-03 NET 100000
81800 86 0
14 0 0 CUST 4 YR
PACKAGING
07-04 00-00 NET 30 0 0 0 0 0
0 0 CUST 7 YR
PLUMBING
07-02 07-02 NET 10 5700 3800
45 44 0 11 0
TEMP HELP
07-01 00-00 VARIED 2800 2800
13 16 0 71 0
TELECOM
07-03 00-00 NET 30 400 400
55 45 0 0 0
DISPUTE
TEXTILES
07-04 07-03 NET 45 1210100 527000
71 29 0 0 0
CUST 8 YR
TRANSPORTN 07-03 00-00 NET 15 0
0 0 0 0 0 0
ACCTCLOSED
TRNS EQUIP 07-04 00-00 0000000 13900 4700
100 0 0 0
0 CUST 7 YR
TRUCK DLR
07-04 00-00 CONTRCT 9000
5900 95 0
0 2 3
UTILITY
07-03 00-00 CONTRCT 0
0 0 0
0 0 0
AIR TRANS
04-10 04-05 100 0
0 0 0 0 0
AIR TRANS
06-11 00-00 NET 30 100 0
0 0 0 0 0
CUST 12 YR
COMPUTERS
06-06 06-05 0000000 7000
400 0 47
42 0 11
ELEC DISTR 06-10 00-00 VARIED 1700
1400 85 15
0 0 0
ELEC EQUIP 06-10 00-00 NET 30 7800
7800 56 44
0 0 0
HEATNG& A/C 06-01 00-00 NET 30 73700
73700 100 0 0
0 0
PAPER DIST 06-10 00-00 NET 3300
1500 100 0 0
0 0
RUBR& PLAST 06-06 06-07 0000000 141800 101000
77 23 0 0 0
CUST 3 YR
CURRENT QUARTER 1723700
632200 73 25
2 0 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE
CUR DBT DBT $ % 30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070400
0 14 5 479000 71 27
2 0 0
20070300
0 9 6 511500 67 30
2 1 0
20070200
0 9 11 709100 53
34 13 0 0
20070100
0 21 6 638500 71 27
0 2 0
20061200
0 19 6 645300 71 27
0 2 0
20061100
0 16 6 591400 61 39
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ ---
-------- --- --- --- --- ---
First
2007 7 566200 63 31 6
0 0
Fourth
2006 5 624800 68 31 0
1 0
Third
2006 3 681500 79 21 0
0 0
Second
2006 3 743700 80 20 0
0 0
First
2006 1 731000 94 6 0
0 0
FINANCIAL INFORMATION
Outside sources
failed to add any insight into the current financial situation of the Firm.
HISTORY
The Company's
heritage began almost 200 years ago with the startup of one of their
predecessor companies, J.P. Stevens &
Co., Inc., in Massachusetts, followed by Pepperell Manufacturing Company
in Maine and West Point Manufacturing Company in Georgia.
CURRENT OPERATIONS
NAICS Code: 31331
Textile and Fabric Finishing Mills
Number of
Employees: 6,700
Business Activity:
WESTPOINT HOME,
INC., is a manufacturer of bed and bath linens. The products include sheets, towels and bath accessories, comforters,
down comforters, blankets, throws, decorative pillows, bedding accessories,
mattress pads, feather, fiberbeds, and bed pillows. The products are sold under
the brand names; Martex, Baby Martex, Grand Patrician, Utica, Chatham, Vellux,
Lady Pepperell, Scooby Doo, Little Missmatched. In addition to their own
brands, the Subject makes a range of popular products under license agreements
which includes Ralph Lauren, Charisma, Betsey Johnson and Harley Davidson among
others. In addition, the Firm is also a manufacturer of the Martha Stewart bed
and bath lines. The products can be puchased at various well known retailers
including; Sears, JC Penny, Kohls, Baby Depot, Target, Zellers, Bed Bath &
Beyond, Wal-Mart, Linens-N-Things, Amazon.com, Bloomingdales, Macy's, and
others.
The above address is
the headquarters for the Firm. There are 16 manufacturing facilities and 6
distribution centers.
PUBLIC RECORD
FILING INFORMATION
Filing Number: 52664481
Filing Date: 08/26/2005
Filing Time: 2:38PM
Filing Type: ORIGINAL
Filing Office: SECRETARY OF STATE/UCC DIVISION
FEDERAL & DUKE OF YORK STS
DOVER, DE 19901
DEBTOR INFORMATION
Debtor(s): WESTPOINT HOME, INC.
507 WEST 10TH STREET
WEST POINT, GA 31833
SECURED PARTY OR
CREDITOR INFORMATION
Secured
Party(s): BANK OF AMERICA, N.A.
300 GALLERIA
PARKWAY, N.W., SUITE 800
ATLANTA, GA
30339
COLLATERAL INFORMATION
Collateral
Type: ACCOUNT(S) AND PROCEEDS
Collateral
Type: NEGOTIABLE INSTRUMENTS AND
PROCEEDS
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FILING INFORMATION
Filing Number: 53339158
Filing Date: 10/21/2005
Filing Time: 10:45PM
Filing Type: ORIGINAL
Filing Office: SECRETARY
OF STATE/UCC DIVISION
FEDERAL & DUKE OF
YORK STS
DOVER, DE 19901
DEBTOR INFORMATION
Debtor(s): WESTPOINT HOME INC.
1055 TOWEL AVE
VALLEY, AL 36854-5513
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): RAYMOND LEASING CORPORATION
20 S. CANAL
STREET
GREENE, NY 13778
COLLATERAL INFORMATION
Collateral
Type: LEASED EQUIPMENT
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FILING INFORMATION
Filing Number: 53720589
Filing Date: 12/02/2005
Filing Time: 11:56PM
Filing Type: ORIGINAL
Filing Office: SECRETARY
OF STATE/UCC DIVISION
FEDERAL & DUKE OF
YORK STS
DOVER, DE 19901
DEBTOR INFORMATION
Debtor(s): WESTPOINT HOME, INC.
500 CHERRY RD
CLEMSON, SC 29631
SECURED PARTY OR CREDITOR INFORMATION
Secured
Party(s): IBM CREDIT LLC
1 NORTH CASTLE
DRIVE
ARMONK, NY 10504
COLLATERAL INFORMATION
Collateral
Type: LEASED COMPUTER EQUIPMENT AND
PROCEEDS
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FILING INFORMATION
Filing Number: 61936293
Filing Date: 06/07/2006
Filing Time: 3:16PM
Filing Type: ORIGINAL
Filing Office: SECRETARY
OF STATE/UCC DIVISION
FEDERAL
& DUKE OF YORK STS
DOVER, DE 19901
DEBTOR INFORMATION
Debtor(s): WESTPOINT HOME, INC.
507 W. 10TH STREET
WEST POINT, GA 31833
SECURED PARTY OR
CREDITOR INFORMATION
Secured
Party(s): HAROLD M. PITMAN COMPANY
721 UNION BLVD.
TOTOWA, NJ 07512
COLLATERAL
INFORMATION
Collateral
Type: CONSIGNED MERCHANDISE
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FILING INFORMATION
Filing Number: 63782596
Filing Date: 10/30/2006
Filing Time: 4:59PM
Filing Type: ORIGINAL
Filing Office: SECRETARY
OF STATE/UCC DIVISION
FEDERAL & DUKE OF
YORK STS
DOVER, DE 19901
DEBTOR INFORMATION
Debtor(s): WESTPOINT HOME, INC
304 E MAIN ST
ELKIN, NC 28621-3514
SECURED PARTY OR
CREDITOR INFORMATION
Secured
Party(s): RAYMOND LEASING CORPORATION
20 S. CANAL
STREET
GREENE, NY 13778
COLLATERAL INFORMATION
Collateral
Type: LEASED EQUIPMENT
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A nationwide search
of bankruptcy courts revealed no record of the Subject filing for bankruptcy.
GENERAL COMMENTS
WESTPOINT HOME,
INC., is a manufacturer of sheets for bedding engaged in business since
2007. The payment history is generally
satisfactory, and there are no litigations taken against the Subject. In addition, a nationwide search of public
files and bankruptcy courts revealed no under the Subject's name.
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 |
|
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%)