MIRA
INFORM REPORT
|
Report Date : |
03.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
MAIN KNITTING INC. |
|
|
|
|
Registered Office : |
6666 St. Urbain
Suite 400, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1944 |
|
|
|
|
Legal Form : |
Provincially
Chartered Corporation - Private |
|
|
|
|
Line of Business : |
Manufacturer of
private label undergarments for Men, Women and Children. |
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 : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: MAIN
KNITTING INC.
Trade Name(s): Mr.
Brief
Club VIP
Arctic Sun
Address: 6666
City:
State/Province:
Zip Code: H2S
3H1
Country:
Telephone: 514-274-4403
Facsimile: 514-274-6125
Founded
(D/M/Y): / /1944
In KCAD As of:
31/12/2006
Sales /
Revenue: 150,000
Net Income:
Total Equity:
Number of Employees:
1,200
Legal Form: Provincially
Chartered Corporation - Private
Website: www.mainknit.com
Maj.
Shareholder: Ms. Frances Inhaber Shapiro
Business Activity: The Company is a manufacturer of
private label undergarments for Men, Women, and
Children.
NOTE TO CLIENT
NOTE::LEGAL
NAME: MAIN KNITTING INC.
ORDERED NAME: JAIN
KNITTING INC.
Person
Contacted: Mr. Carmine Di Frouscia,
Controller. Mr. Di Frouscia verified and
updated the information presented to him.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 02/11/1944
State/Province of
Incorporation: QC
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company provincially
chartered in
File Number:
1143405570
Legal Name: LES
TRICOTS MAIN INC. (French Version)
Incorporation Date:
11/2/1944
Last Annual Report:
12/13/2005
Location:
Address: 6666, RUE
SAINT-URBAIN, 4E TAGE
MONTRAL (QUBEC) H2S 3H1
Managers/Key
Personnel
Ms. Frances Inhaber
Shapiro President
Mr. Howard
Inhaber Secretary
Mr. Michael
Inhaber Vice President
Mr. Carmine Di
Frouscia Controller
OWNERS
Ms. Frances Inhaber
Shapiro % Majority
4271807 CANADA
INC.
Shareholder
The Company has the
following subsidiary:
MAIN KNITTING (
BANKS
HSBC
Telephone:
Facsimile:
Account Number:
Account Manager:
Bank policy
prohibits providing credit information.
PAYMENT HISTORY
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing
$ 1st 2nd
3rd
------------------------------------------------------------------------------
FINANCIAL LINX: 416-753-4000 DLA-2007/06/01 321 #
*Jul Jan/2006 0 Jul/2007 19,334
15,596 15,596 0
0 0
VW CR: 514-332-4333 DLA-2007/06/28
2,409, Merged accts #
*Jul Feb/2005 0
104K 54,403
54,403 0 0
0
Whlsl-Electronic Pts:
*Jul 0 17,510 17,510
17,346 0 0
164
Retail-Establishment:
*Jul 0 671 671
118 553 0
0
Transportation Serv:
*Jul 0 86 86
0 86 0
0
Mfr-Inorganic Chemcl:
*Jul 0 28,677 28,677
9,452 19,225 0
0
Mfr-Inorganic Chemcl:
*Jul 0 13,254 13,254
4,106 7,689 1,459
0
PRIMUS AUTO FIN SERV: 613-742-2100 DLA-2007/05/19 6,035, Merged
accts #
*Jul Apr/2004 0 178K 31,376
31,376 0 0
0
Whlsl-Professnl Equp:
*Jul
0 442 442
161 0 0
281
CITI CARDS
*Jul
5,000 5,618 1,373
1,373 0 0
0
Whlsl-Durable Goods:
*Jul 0 6,083 6,083
6,083 0 0
0
Mfr-Pump &
Pumping E:
*Jun 0 806 806
43 0 763
0
Transportation Serv:
*Jun 0 5,354 5,354
5,354 0
0 0
Wholesale-Elec Equip:
*Jun 0 25,000 701
203 189 309
0
Business Services:
*Jun 0 10,624 1,805
0 1,805 0
0
------- -------
------- ------- ------- -------
P.I. =
16 90 Days 416K
178K 145K 29,547
2,531 445
Reported ------- ------- ------- ------- -------
-------
FORD CREDIT: 999-999-9999 DLA-2007/03/28 1,484,
Merged accts #
*Apr May/2004 0 46,934 1,954
1,954 0 0
0
Wholesale-Chemicals:
*Apr 0 388 388
217 171 0
0
Whlsl-Electronic Pts:
*Mar
0 4,000 2,916
2,650 237 29
0
------- -------
------- ------- ------- -------
P.I. =
16 Total 467K
183K 150K 29,955
2,560 445
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
------------------------------------------------------------------------------
Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
2 Qtr/2007
26 28 16
171,803 135,597 25,700
10,342 164
1 Qtr/2007
12 23 16
179,855 155,531 22,171
1,989 164
4 Qtr/2006
28 7 14
413,514 181,278 230,212
1,860 164
3 Qtr/2006
16 4 18
238,071 196,054 37,383
4,634 0
2 Qtr/2006
9 0 17
206,724 199,395 6,321
187 821
1 Qtr/2006
1 3 14
193,882 192,373 688
0 821
4 Qtr/2005
2 9 12
173,576 168,422 580
49 4,525
3 Qtr/2005
19 3 13
216,848 193,422 18,709
253 4,464
2 Qtr/2005
2 3 11
160,821 154,862 1,495
0 4,464
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2006 31/12/2006
Consolidated
Sales / Revenues 150,000 - -
Mr. Aronoff declined
to provide financial statement information for this report, citing company
policy. He did provide a net sales
figure of CAD 150 Million.
CURRENT OPERATIONS
NAICS Code: 31523
Women's and Girls' Cut and Sew Apparel Manufacturing
Number of Employees
: 1,200
Business Activity:
The Company is a
manufacturer of private label undergarments for Men, Women, and Children.
The Subject imports
from
Products include
undershirts, underwear, etc.
The heading address
is the headquarters for the Subject. The
facility consists of over 300,000 square feet of leased office, manufacturing
and warehouse space.
The Company has
additional warehouses located in
PUBLIC RECORD
A search of public
revealed the following actions against the Company and no bankruptcy petitions.
We could not determine the status of the actions at this time.
Writ of Summons:
Defendant MAIN
KNITTING INC Date Mar
28, 2007
Plaintiff
Amount 30,135 Location
Reason Rent File # 133329071
-
Writ of Summons:
Defendant TRICOTS
MAIN INC Date Mar
01, 2007
Plaintiff
Amount 11,567 Location
Reason Contract File # 132386072
GENERAL COMMENTS
The Subject, founded
in 1944 in
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%)