MIRA INFORM REPORT

 

 

Report Date :

27th February, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

IL MIGLIO DI MARIO UOMO

 

 

Registered Office :

840 North Michigan Avenue, Chicago, Illinois , 60611,United States .

 

 

Country :

United States

 

 

Line of Business :

Retail men's clothing.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow at times

 

 

Litigation :

Clear

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

Company Name : IL MIGLIO DI MARIO UOMO

Address                        : 840 NORTH MICHIGAN AVENUE

City                              : CHICAGO

State/Province               : ILLINOIS                             

Zip Code                       : 60611                       

Country                         : UNITED STATES               

Telephone                     : 312 391-0831                

Facsimile                      : N/A                         

Legal Form                    :

Website                        : No web site

@rating Opinion :

Business Activity           : Il Miglio Di Mario Uomo will retail men's clothing.

As of                             :

Sales / Revenue :

Net Income                    :

Total Equity                   :

Number of Employees    : 2

 

 

NOTE TO CLIENT

 

Contact person: Mr. Bruce Cage, Owner.

 

The Company is not yet open for business. Mr. Cage stated he is in the process of setting up the store.

A Company telephone has not been established. The telephone number in this report is the cellular phone for Mr. Cage.

 

The Subject does not have a website or a fax number.

Mr. Cage provided the information for this report.

 

 

LEGAL

 

Legal Form                    :

Previous Legal Form       :

Company is NOT required to publish an annual financial report.

We were unable to find a Company registration in the states of Illinois, or Delaware.

 

Mr. Cage stated he recently registered with the

Secretary of State of Illinois, however, did not have the file number to provide.

 

Mr. Cage provided the following tax ID number: 665-1289377.

 

 

Managers/Key Personnel

 

Mr. Bruce Cage                         Owner

 

 

 

AFFILIATED ENTITIES

 

The Company does not have any affiliated companies or subsidiaries.

 

 

BANKS

 

Harris Bank

 

IL

Telephone                     : 708 409-8895

Facsimile                      : 708 562-3106

Account Number            : 4801687652

Account Manager           : Michelle Ashton

We have sent a fax to the bank. The report will be updated when we receive a response from the bank.

 

 

PAYMENT HISTORY

 

No payment history was found for the Subject.

 

 

FINANCIAL INFORMATION

 

The Subject has not started operations yet, therefore there are no financials to report.

 

 

CURRENT OPERATIONS

 

NAICS Code:   44811     Men's Clothing Stores

SIC Code:     5611

 

Number of Employees:               2

 

 

Business Activity

 

Il Miglio Di Mario Uomo will retail men's clothing.

 

The heading address is the sole location. The store will be leased and is approximately 1,600 square feet.

 

 

TRADE REFERENCES

 

Company                                  : PTS Group

Telephone                                 : 646 675-5101

Date Account Opened                : 02/2006

Credit Limit                                : unlimited

Total Amount Outstanding          : 0

 

 

Amount Current                         : 0

Returned Checks                       : Yes; several in the past

Rating                                       : Good

Business Activity                       : Men's Italian clothing wholesaler

 

Mr. Roberto Fin has known Mr. Cage for over 15 years and has extended credit to him under previous stores owned by Mr. Cage. The above reference is for a previous store owned by Mr. Bruce Cage, " Mario Uomo" . Mr. Fin stated the store, " Mario Uomo" , closed last year.

 

Mr. Roberto Fin stated that Mr. Bruce Cage's character is generally good and very honest, however, he is known to have trouble paying other vendors on time in the past.

Business activity : Men's suit and clothing wholesaler

==============================================================================

 

 

Company                      : Ital Wear

Telephone                     : 734 207-0441

Fax                               : 734 207-1644

Date Account Opened    : 4/2006

 

Credit Limit                                : 8,000

High Credit Utilized                    : 2,000

Total Amount Outstanding          : 0

Amount Current                         : 0

Terms/Discount                         : 30 days

 

Rating                           : Good

Business Activity           : Clothing wholesaler

 

Mr. Tarcisio has conducted businesses with Mr. Cage, when he owned and operated the store Mario Uomo. Mr. Tarcisio stated that Mr. Cage lost the lease for the store Mario Uomo, and was left with no location. He will reopen a new store under the name Il Miglio Di Mario Uomo. The above reference is for Mario Uomo, the previous store owned by Mr. Cage.

 

 

PUBLIC RECORD

 

No derogatory legal action was filed against the Subject nor were there any Uniform Commercial Codes that were filed by the Subject.

 

A search of bankruptcy courts revealed no record of the Subject filing for bankruptcy.

 

 

GENERAL COMMENTS

 

The Company will be established in the upcoming weeks. Payment trends for one of Mr. Bruce Cage previous businesses indicate delinquencies from time to time. No legal filings were found against the Subject. We recommend using caution when carrying out business activities with the Subject.

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions