MIRA INFORM REPORT

Report Date :

19.11.2007

IDENTIFICATION DETAILS

Name :	EDI WILSONS LEATHER WILSONS LEATHER HOLDINGS INC
Registered Office :	7401 Boone Ave N # A-106, Brooklyn Park, Mn 55428-1007
Country :	United States
Date of Incorporation :	08/23/1948
Legal Form :	Institutions
Line of Business :	Luggage & Leather Goods Stores

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 :	Slow by 16 days
Litigation :	Clear

Company Information

EDI WILSONS LEATHER
7401 BOONE AVE N # A-106
BROOKLYN PARK, MN 55428-1007
(507) 451-9125

Business Identification Number:

767119540

File Established:

PRIOR TO 01/1977

Date of Incorporation:

08/23/1948

SIC code:

LUGGAGE & LEATHER GOODS STORES - 5948

Matching Name and Address

This business is linked to the one displayed above. The report shows the best view of the business.

WILSONS LEATHER HOLDINGS INC
7401 BOONE AVE N
MINNEAPOLIS, MN 55428-1007

Executive Summary

  Intelliscore for EDI WILSONS LEATHER

65.39

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

100

High risk

Low risk

MEDIUM RISK
52% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

	NUMBER OF TRADES NET 1-30 TERMS
	NUMBER OF CURRENT ACCOUNTS
	NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS
	NUMBER OF RECENTLY ACTIVE ACCOUNTS

  Current DBT range compared to all industries*

16 DBT
($452,200 Balance)

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings: details (FILED 06/02-05/05)

12

Judgment filings:

0

Total collections: details (PLACED 05/03-01/07)

6

Sum of legal filings:

$27,598

UCC filings: details (FILED 11/01-04/07)

16

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

7

Highest DBT previous 6 months:

16

Highest DBT previous 5 quarters:

16

Total continuous trades:

28

Current continuous trade balance:

$452,200

Trade balance of all trades (58):

$570,500

Average balance previous 5 quarters:

$630,280

Highest credit amount extended: details

$600,400

6 month balance range:

$414,900 - $600,100

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

90+

60

30

0

2

4

8

16

16

16

0

May07

Jun07

Jul07

Aug07

Sep07

Oct07

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

0

0

0

2

12

0

3Q06

4Q06

1Q07

2Q07

3Q07

Performance Analysis

Predicted DBT for 01/16/2008: 16 DBT

Payment Trend Indication:
Payments Are Increasingly Late

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CONTRCT, and CREDIT

Legal Filings and Collections

Collections
Date Placed	Status	Original Balance	Outstanding Balance	Date Closed	Agency	Agency Phone
01/2007	Open Account	$123	$123		NCO GROUP	(800) 735-6008
10/2004	Closed, Uncollected	$195	$195	12/2004	ASSOCIATED CREDIT SERVICES	(800) 531-6500
10/2004	Closed, Uncollected	$345	$345	12/2004	ASSOCIATED CREDIT SERVICES	(800) 531-6500
11/2003	Open Account	$30	$30		FIDELITY NATIONAL CREDIT SERVI	(800) 648-9341
09/2003	Open Account	$593	$593		FIDELITY NATIONAL CREDIT SERVI	(800) 648-9341
05/2003	Closed, Uncollected	$869	$869	02/2004	DIVERSIFIED ADJUSTMENT SERVICE	(763) 783-2301

Tax Liens
File Date	Filing Type	Status	Amount	Filing Number	Jurisdiction
05/19/2005	State Tax Lien	Filed	$3,226	2005038315	RICHLAND COUNTY CIRC
05/23/2005	State Tax Lien	Filed	$6,150	BK20PG657	BEAUFORT COUNTY CIRC
05/27/2005	State Tax Lien	Filed	$5,672	BK118PG222	HORRY COUNTY CIRCUIT
05/27/2005	State Tax Lien	Filed	$7,255	BK118PG223	HORRY COUNTY CIRCUIT
09/16/2004	State Tax Lien	Released	$1,186	200409161812	SACRAMENTO COUNTY RE
03/09/2004	State Tax Lien	Released	$1,698	03210173	NEW CASTLE COUNTY CO
02/05/2004	State Tax Lien	Filed	$1,186	200402050464	SACRAMENTO COUNTY RE
02/28/2003	State Tax Lien	Filed	$1,698	03210173	NEW CASTLE COUNTY CO
12/16/2002	State Tax Lien	Released	$395	182102	GREENE COUNTY RECORD
12/17/2002	State Tax Lien	Released	$395	69857	ST. LOUIS CITY COUNT
09/03/2002	State Tax Lien	Filed	$395	69857	ST. LOUIS CITY COUNT
09/04/2002	State Tax Lien	Filed	$395	00182102	GREENE COUNTY RECORD
09/04/2002	State Tax Lien	Filed	$333	83100	ST. CHARLES COUNTY R
09/06/2002	State Tax Lien	Filed	$395	2002K0057097	JACKSON COUNTY RECOR
09/10/2002	State Tax Lien	Filed	$395	106607	ST. LOUIS COUNTY REC
06/12/2002	State Tax Lien	Filed	$498	03949720	MARION CNTY CIRCUIT/
06/20/2002	State Tax Lien	Released	$498	03949720	MARION CNTY CIRCUIT/

Trade Payment Information

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
ADVERTISNG	11/2007		NET 30		$0						CUST 4 YR
+AIR TRANS	09/2007			$600,400	$225,900	100%					CUST 21 YR
=BLDG MATRL	10/2007		NET 30	$6,100	$6,100	36%	64%
BLDG MATRL	10/2007		NET 30	$1,600	$0
BLDG MATRL	10/2007		1/10N11	$1,100	$0
BUREAU	09/2007	09/2007	NET 30	$3,000	$0						CUST 3 YR
-FACTOR	09/2007		VARIED	$209,900	$209,900	25%	25%	25%	25%
FACTOR	11/2007		NET 30		$0						CUST 6 YR
FACTOR	10/2007		NET 30		$0
FACTOR	10/2007	03/2007	NET 60	$1,300	$0
FINCL SVCS	10/2007		NET		$0						CUST 3 YR
FINCL SVCS	11/2007	11/2007	CONTRCT		$0						SATSFTRY
-HTNG SUPLR	10/2007	08/2007	1%30NET	$10,200	$600		100%				CUST 6 YR
INDUS SUPL	10/2007	02/2006	NET 30		$0						CUST 5 YR
LEATHER	10/2007		SPECIAL		$0						CUST 4 YR
MACH DISTR	10/2007		NET 20		$0						CUST 23 YR
-PACKAGING	11/2007	12/2004	NET 30	$8,900	$900	24%	76%				CUST 4 YR
+PERSNLSVCS	10/2007	09/2007	ROI	$17,500	$8,700	100%
PLUMBING	08/2007		NET30		$0						CUST 9 YR
PLUMBING	09/2007		NET30		$0						CUST 9 YR
PLUMBING	09/2007		NET30		$0						CUST 9 YR
PLUMBING	08/2007		NET30		$0						CUST 6 YR
PLUMBING	09/2007	11/2003	NET30		$0
SAFTY PROD	09/2007		NET 30		$0
TEMP HELP	11/2007		NET 7	$4,700	$0
+UTILITY	09/2007		NET	$300	<$100	100%					PROMPT
UTILITY	10/2007		CONTRCT		$0
WAREHOUSE	11/2007	08/2007	VARIED	$100	$0						CUST 2 YR

Trade Payment Totals

Trade Payment Experiences				Account Status Days Beyond Terms
Type	Lines Reported	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
Continuously Reported	28	$865,100	$452,200	63%	13%	12%	12%		DBT: 16
Newly Reported	0								DBT:
Trade Lines Totals	28	$865,100	$452,200	63%	13%	12%	12%		DBT: 16

Additional Payment Experiences

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
AIR TRANS	12/2004	11/2003	NET 30		$0						CUST 3 YR
-AIR TRANS	11/2006		NET 30	$448,900	$400		26%		23%	51%	COLLECTION
BLDG MATRL	07/2006		N10PROX		$0
CELLUL/PAG	01/2006		NET 30		$0
CERAMICS	06/2006		NET 30		$0						CUST 12 YR
COMPUTERS	05/2005		CREDIT		$0						CUST 37 YR
-COMPUTERS	06/2006	05/2006		$62,800	$30,000		58%	42%
=CONST MACH	11/2005		MULTI	$4,500	$100		100%
=ELEC EQUIP	09/2005		NET 30	$2,000	$2,000		100%
ELEC EQUIP	01/2005	04/1999	NET 30	$200	$0						CUST 6 YR
+ELEC EQUIP	06/2007	05/2007	CONTRCT	$800	$800	100%
ELEC SUPLR	04/2005		VARIED		$0
FACTOR	02/2005	05/2004	NET 45		$0
FINCL SVCS	03/2006	03/2006	CONTRCT		$0						SATSFTRY
-FREIGHT	01/2007	11/2006	VARIED	$121,900	$1,400			100%
-FRGHT FWRD	03/2005		NET 30	$2,100	$700					100%
GENERAL	05/2007		CONTRCT		$0
GENERAL	02/2005	10/2003	NET 30		$0						CUST 2 YR
+INDUS MACH	09/2005	08/2005	NET 30	$1,700	$200		100%				CUST 17 YR
INDUS SUPL	03/2005	03/2004	NET 30		$0						CUST 11 YR
+LUGGAGE	06/2005	04/2005	VARIED	$80,700	$53,900	87%	11%	2%
NEWSPAPERS	04/2005	09/2001	VARIED	$200	$0						CUST 5 YR
+OFFC SUPPL	06/2007	06/2007	NET	$61,600	$27,000	96%	4%				CUST 12 YR
PLUMBING	04/2005	12/2000	NET30		$0
+TELECOM	08/2005		NET 30	$200	$200	100%
-TELECOM	07/2006		NET 30	$100	$100					100%	DISPUTE
TEMP HELP	01/2007		NET 10		$0						CUST 5 YR
+TRUCK DLR	06/2007		CONTRCT	$2,800	$300	100%
+UTILITY	05/2007	05/2007	NET 15	$1,200	$1,200	100%					SATSFTRY
UTILITY	12/2005		NET 15	$700	$0

Monthly Payment Trends

Payment Trends Analysis
LUGGAGE & LEATHER GOODS STORES INDUSTRY SIC: 5948

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

16

$452,200

63%

13%

12%

12%

OCT07

82%

7

16

$452,200

63%

13%

12%

12%

SEP07

82%

7

16

$459,400

64%

12%

13%

11%

AUG07

82%

7

8

$459,800

70%

17%

13%

JUL07

84%

6

4

$419,900

80%

17%

2%

1%

JUN07

85%

6

2

$600,100

86%

13%

1%

MAY07

85%

5

0

$570,400

99%

1%

Quarterly Payment Trend

Payment History - Quarterly Averages				Account Status Days Beyond Terms
Quarter	Months	DBT	Balance	Cur	1-30	31-60	61-90	91+
Q3 - 07	JUL-SEP	12	$375,300	65%	18%	12%	5%
Q2 - 07	APR-JUN	2	$356,500	90%	9%	1%
Q1 - 07	JAN-MAR	0	$804,000	100%
Q4 - 06	OCT-DEC	0	$1,020,900	100%
Q3 - 06	JUL-SEP	0	$594,700	99%	1%

Inquiries

Summary of Inquiries
Business Category	NOV07	OCT07	SEP07	AUG07	JUL07	JUN07	MAY07	APR07	MAR07
AIR TRANS			1
COMMUN SVC	1
FACTOR		1
FINCL SVCS		2	1
Totals	1	3	2

UCC Profile

The number of UCC Filings is summarized with the 10 most recent listed below.

A full UCC detail report is available within 72 hours by entering UCC-767119540-C032278757 into the Business ID Number field on the BizApps order page.

UCC Summary		Filings
Date Range	Year	Cautionary UCCs^**	Total Filed	Released/ Term'd	Cont	Amended/ Assigned
JUL - PRESENT	2007
JAN - JUN	2007	1	1
JUL - DEC	2006	1	1		7
JAN - JUN	2006	2	2		1
JUL - DEC	2005
PRIOR TO JUL	2005	4	12			16
Total		8	16		8	16

** Cautionary UCC Filings include one or more of the following collateral : Accounts, Accounts Receivable, Contracts, Hereafter Acquired Inventory, Leases, Notes Receivable or Proceeds.

  UCC Filings

UCC FILED Date: 04/11/2007

Filing Number: 07041173490

Jurisdiction: SEC OF STATE VIRGINI

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION, AS CT NORWALK 06856 20

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 07/07/2006

Filing Number: 200612660321

Jurisdiction: SEC OF STATE MINNESO

Secured Party: LASALLE NATIONAL LEASING CORPORATION MD TOWSON 21204 ONE WES

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 02/03/2006

Filing Number: 6041803 8

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: IOS CAPITAL GA MACON 1738 BASS RD

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 02/03/2006

Filing Number: 6041805 3

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: IOS CAPITAL GA MACON 1738 BASS RD

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 11/16/2004

Filing Number: 200414017712

Jurisdiction: SEC OF STATE MINNESO

Secured Party: LEISURE MERCHANDISING CORP. NJ EDISON 08837 96 NORTHFIELD AV

Collateral: UNDEFINED

UCC FILED Date: 07/14/2003

Filing Number: 20038050235

Jurisdiction: SEC OF STATE MINNESO

Secured Party: RACINE JOINT VENTURE II, CBL & ASSOCIATE WI RACINE 53406 553

Collateral: ACCTS REC, EQUIP, FURN & FIX, INVENTORY, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 04/08/2003

Filing Number: 020037058103

Jurisdiction: SEC OF STATE MINNESO

Secured Party: IOS CAPITAL LLC GA MACON 31210 1738 BASS RD

Collateral: 

UCC FILED Date: 01/02/2002

Filing Number: 020000475622

Jurisdiction: WISCONSIN SECRETARY

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION , A CT STAMFORD 06927 2

Collateral: 

UCC FILED Date: 01/02/2002

Filing Number: 020000475824

Jurisdiction: WISCONSIN SECRETARY

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION , A CT STAMFORD 06927 2

Collateral: 

UCC FILED Date: 12/06/2001

Filing Number: 06001019248

Jurisdiction: FULTON SPR COURT

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION IL CHICAGO 60603 10 SOU

Collateral: 

Company Background Information

  Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF CALIFORNIA

State of Origin: CA

Date of Incorporation: 08/23/1948

Current Status: Inactive

Business Type: Institutions - Profit

Charter Number: 00230065

  Additional Company Background Information

Operating Information

Business Type: Institutions

Primary SIC Code: LUGGAGE & LEATHER GOODS STORES - 5948

Standard and Poor's Information

Balance sheet for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Cash and equivalent	19,909	45,552	48,821
	Receivables - net	3,132	4,063	3,643
	Inventory	74,897	85,645	86,059
	Other current assets	7,267	1,987	3,246
	Total current assets	105,205	137,247	141,769
	Fixed assets - net	38,890	41,045	44,606
	Investments	0	0	0
	Other assets	1,250	1,576	2,205
	Total assets	145,345	179,868	188,580
	Debt due in 1 year	0	0	5,000
	Notes payable	0	0	0
	Accounts payable	14,337	12,036	17,697
	Taxes payable	921	5,685	4,307
	Other current liabilities	14,754	16,648	28,544
	Total current liabilities	30,012	34,369	55,548
	Long term debt	20,000	20,000	20,000
	Other liabilities	16,832	17,445	17,925
	Net worth	78,501	108,054	95,107
	Total liab. and net worth	145,345	179,868	188,580

Operating statement for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Net sales	321,262	397,986	420,293
	Cost of goods sold	234,251	258,754	282,769
	Gross income on sales	87,011	139,232	137,524
	Expenses	124,483	130,106	163,463
	Pre-tax income	-37,472	9,126	-25,939
	Taxes	-4,377	-3,086	-2,183
	After tax income	-33,095	12,212	-23,756
	Extraord. inc. & discont'd ops	0	0	173
	Net income	-33,095	12,212	-23,583

Critical data and ratios for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Tangible net worth	78,501	107,995	95,047
	Net working capital	75,193	102,878	86,221
	Current ratio (times)	3.9	2.5	0.0
	% Total debt to tang. n.w.	66.4	98.3	0.0
	% Current debt to tang. n.w.	31.8	58.4	0.0
	% After tax inc. to tang. n.w.	11.3	0.0	0.0
	% After tax inc. to net sales	3.0	0.0	0.0
	Net sales to inventory (times)	4.6	4.8	0.0
	CGS to inventory (times)	120.8	111.0	0.0
	Avg. days sales outstanding (days)	0.0	0.0	0.0

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.	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