MIRA
INFORM REPORT
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Report Date : |
9th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NEW ENGLAND LEATHER ACCESSORIES, INC. |
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Registered Office : |
100 Condor Street, Boston, Massachusetts 02128, United States |
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Country : |
United States |
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Date of Incorporation : |
29.10.1973 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Manufacturer Importing and Retailing leather goods and accessories except women's handbags and purses. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name : NEW ENGLAND LEATHER ACCESSORIES, INC.
Trade Name(s) : Atelante
Address : 100 CONDOR STREET
City : BOSTON
State/Province : MASSACHUSETTS
Zip Code : 02128
Country : UNITED STATES
Telephone : 617 567-7600
Facsimile : 617 567-5541
Legal Form : Corporation - Private
Website : N/A
@rating Opinion :
Business Activity : New England Leather Accessories, Inc., is a manufacturer importing and
retailing leather goods and accessories except women's handbags and purses.
As of :
Sales / Revenue :
Net Income :
Total Equity :
NOTE TO CLIENT
Contact Person: Mr.Terry Scheller
Position: President
Mr. Terry Scheller responded to brief information via a telephone interview, and deferred all financial information. He requested a written inquiry and if he responds the report will be amended and forwarded on.
LEGAL
Legal Form : Corporation - Private
Since (D/M/Y) : 29/10/1973
State/Province of Incorporation : MA
Status : ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The company is incorporated in Massachusetts under the following registration:
The exact name of the Domestic Profit Corporation:
NEW ENGLAND LEATHER ACCESSORIES, INC.
The name was changed from : BUGATTI, INC. THE on 9/26/2006
Entity Type : Domestic Profit Corporation
Identification Number : 042531140
Date of Organization in Massachusetts : 10/29/1973
Current Fiscal Month / Day : 12 / 31
Previous Fiscal Month / Day : 00 /00
The location of its principal office in Massachusetts:
No. and Street : 100 CONDOR ST.
City or Town : E. BOSTON
State : MA
Zip : 02128
Country : USA
Managers/Key Personnel
Mr. Terry Scheller President
Mr. Lynn Scheller Secretary
AFFILIATED ENTITIES
Mr. Terry Scheller stated that there are no affiliated companies or businesses.
BANKS
MA
Telephone:
Facsimile:
Account Number:
Account Manager:
The name of the primary bank could not be learned either directly form management or from outside sources.
PAYMENT HISTORY
The Subject appears to be purchasing under their former name; Bugatti as a payment record could not be developed under the name New England Leather Accessories, Inc. The following is the payment record for Bugatti Inc.,the former name for the Subject:
BUSINESS DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY REPTD SALE TERMS
$ $ %
30 60 90 91+ COMMENTS
---------- ----- ----- ------- -------- -------- --- --- --- ---
--- --------
ADVERTISNG 07-01 00-00 NET 30 0
0 0 0
0 0 0 CUST 4 YR
AIR TRANS
06-11 00-00 0000000 1000
100 98 0
2 0 0 CUST 25 YR
FINCL SVCS 07-01 06-12 0000000 0 0 0 0 0
0 0 SATSFTRY
UTILITY
07-01 99-08 NET 15 100 100
75 25 0 0 0
SATSFTRY
AIR TRANS
05-12 00-00 NET 30 100 100
0 0 100 0 0 CUST
8 YR
BUS SERVCS 05-02 05-02 NET 30 0
0 0 0
0 0 0
CELLUL/PAG 06-01 02-01 NET 30 200
200 0 0
0 0 100 WRITE-OFF
COMPUTERS
04-02 00-00 NET 30 0 0 0 0 0
0 0
FINCL SVCS 06-03 06-03 CONTRCT 0 0 0 0 0
0 0 SATSFTRY
FREIGHT
06-09 05-04 VARIED 300 0
0 0 0 0 0
GENERAL
04-05 96-10 NET 30 0 0 0 0 0
0 0 CUST 10 YR
INDUS SUPL 05-05 00-00 NET 30 0
0 0 0
0 0 0 CUST 8 YR
OFFC SUPPL 06-03 03-09 VARIED 0
0 0 0
0 0 0 CUST 12 YR
OFFC SUPPL 06-01 05-09 NET 30 100
100 0 0
0 100 0 CUST
1 YR
PRNTG& PUBL 06-05 00-00 VARIED 1400
0 0 0
0 0 0
TELECOM
05-12 00-00 NET 30 100 100
60 36 4 0 0
DISPUTE
CURRENT QUARTER 1100
200 91 8
1 0 0
Payment Trends
INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-
DATE CUR DBT
DBT $ %
30 60 90 91+
-------- --- ---
--- -------- --- --- ---
--- ---
20070100
0 7 2 200 91
8 1 0 0
20061200
0 7 2 200 91 8
1 0 0
20061100
0 7 4 100 75 25
0 0 0
20061000
0 7 1 300 94 6
0 0 0
20060900
0 7 1 300 94 6
0 0 0
20060800
0 7 1 300 94 6
0 0 0
Payment History - Quarterly
Averages
BALANCE CUR 1-
31- 61-
QUARTER YEAR DBT
$ % 30
60 90 91+
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--- -------- --- --- ---
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Fourth
2006 2 200 89 10 1
0 0
Third
2006 1 300 94 6 0
0 0
Second
2006 5 500 64 36 0
0 0
First
2006 6 300 59 41 0
0 0
Fourth
2005 4 100 75 25 0
0 0
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A nationwide search of bankruptcy courts showed no filing under the name Bugatti inc.
FINANCIAL INFORMATION
Mr. Terry Scheller deferred all financial details via telephone. He requested a written request; if he responds the report will be amended. Outside sources failed to add any insight into the condition of the firm.
HISTORY
The name was changed from: BUGATTI, INC. THE on 9/26/2006
CURRENT OPERATIONS
NAICS Code: 316 Leather and Allied Product Manufacturing
Business Activity
New England Leather Accessories, Inc., is a manufacturer importing and retailing leather goods and accessories except women's handbags and purses.
The above address is the corporate headquarters for the firm and the sole location for the Firm. Ownership and square footage could not be obtained from management.
TRADE REFERENCES
Supplier references were declined by management.
PUBLIC RECORD
A search of public nationwide revealed no uniform commercial codes, legal actions or bankruptcy petitions.
GENERAL COMMENTS
New England Leather Accessories, Inc., engaged as an importer and wholesaler of leather goods. Management declined to provide any financial details and outside sources failed to add any insight into the condition of the Firm. No public records were traced to the firm and nothing of a negative nature was reported or noted.
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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