MIRA
INFORM REPORT
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Report Date : |
12.07.2007 |
IDENTIFICATION DETAILS
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Name : |
WINGS MANUFACTURING CORPORATION |
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Registered Office : |
1407 Broadway, |
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Country : |
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Date of Incorporation : |
10/01/1979 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Wholesaler of garments. |
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 : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: WINGS
MANUFACTURING CORPORATION
Trade Name(s): Wing
Wear
Cotton Express
Address: 1407
BROADWAY,
City:
State/Province:
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
---
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:
Jurisdiction:
Entity Type: DOMESTIC
BUSINESS CORPORATION
Current Entity Status:
ACTIVE
Selected Entity Address
Information DOS Process
WINGS MANUFACTURING
CORPORATION M SINGH
Principal Executive Office
M SINGH
Registered Agent NONE
Managers/Key Personnel
Mr. Manmohan Singh President
Subsidiary:
Jazzman Sportswear
Corporation
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
201 521-0800
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TRADE REFERENCES
NAME: AMERICAN SHIPPING COMPANY BUSINESS
ADDRESS:
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
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 -
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
Secured Parties: HSBC
BUSINESS CREDIT (
Filing Date: 12/4/2002
Filing Number:
0212042699896
Filing Type: AMENDMENT
Original Filing Number:
02095439
Debtor Address: WINGS
MANUFACTURING CORPORATION
WINGS MANUFACTURING
CORPORATION
Secured Parties: ISRAEL
DISCOUNT BANK OF
Filing Date:
12/12/2003
Filing Number:
0312125589768
Filing Type:
AMENDMENT
Original Filing Number:
0302040258726
Debtor Address: WINGS
MANUFACTURING CORPORATION
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,
Secured Parties: DCD
TRADE SERVICES, LLC
Filing Date:
6/12/2002
Filing Number:
02136403
Filing Type: INITIAL
FILING
Debtor Address: WINGS
MANUFACTURING CORPORATION
452
Secured Parties: HSBC
BUSINESS CREDIT (
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
LEGAL DEPARTMENT
(ASSIGNEE)
Filing Date: 2/4/2003
Filing Number:
0302040256924
Filing Type: ASSIGNMENT
Original Filing Number:
02096928
Debtor Address: WINGS
MANUFACTURING CORPORATION
WINGS MANUFACTURING
CORPORATION
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
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
1251 Avenue of the
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 (
1407 BROADWAY
WINGS MANUFACTURING
CORPORATION
WINGS MANUFACTURING
CORPORATION
452
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
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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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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%)