MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
REEDS JEWELERS, INC. |
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Registered Office : |
2525 S. Seventeenth Street, Wilmington, NC 28401 |
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Country : |
United States |
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Date of Incorporation : |
16.11.1984 |
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Com. Reg. No.: |
0199336 |
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Legal Form : |
Corporation - Profit |
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Line of Business : |
Retailer of Jewelry |
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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Maximum Credit Limit : |
USD 1,000,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
REEDS JEWELERS, INC.
Company acronym:
Contact Information
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Address |
2525 S. Seventeenth Street Wilmington, NC 28401 USA |
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Telephone |
910-350-3100 |
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Fax |
910-350-3353 |
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Website |
www.reeds.com |
Registration Data
|
Date of Registration |
11-16-1984 |
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Registration number |
0199336 |
|
Legal address |
2525 S. Seventeenth Street Wilmington, NC 28401 USA |
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Legal Form |
Corporation - Profit |
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Share Capital |
25,000,000 shares common at USD 0.1 par value |
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Other Registration Data |
- |
Shareholders
with Shares
|
Shareholder Names |
Share% |
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Sparkle LLC 2525 S. Seventeenth Street Wilmington, NC 28401 Incorporated on December 9, 2003 ID# 0701887 |
N/A |
Board/Executive
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Name |
Alan M. ZIMMER |
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Position within the company |
President and CEO |
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Name |
Allan M. METZER |
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Position within the company |
COO |
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Name |
James ROUSE |
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Position within the company |
CFO |
Changes in Registration
Data
None recorded
Activities
(realistic and officials)
Founded in 1946 as a hometown store, Reeds Jewelers, Inc. has since
grown into a full-service, multi-channel jewelry retailer with 90 retail stores
in 18 states. The company also operates a direct-mail catalog and an
e-commerce Web site. Its products include rings, bands, loose diamonds,
mountings and settings, necklaces, pendants, bracelets, anklets, earrings, body
jewelry, charms, watches and birthstones.
Staff
|
Number of staff employed |
690 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Europe, Far East |
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Exports To |
- |
Facilities
|
Owned |
Store, warehouse and office |
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Premises Size |
4,000 sq. feet |
Subsidiaries
and Participation
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Parent Company |
Sparkle LLC |
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Subsidiaries |
There are several subsidiaries in the U.S. |
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Affiliates |
- |
Branches
|
Address |
90 retail stores |
Bankers
|
Bank |
Branch Banking & Trust |
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Address |
202 North 3rd Street, Wilmington, DE 28401 |
Suppliers,
Partners
|
Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
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Source |
Bank |
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Figures are |
Declared |
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Currency |
USD |
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Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
58,900,000 |
Reporter Comments
|
Comments |
A financial assistant
controlled the present report. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. According to our credit analysts, during the last 6 months, 93% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 2 to 5 days
beyond terms. |
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MAX CREDIT |
USD 1,000,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
USD 1,000,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.67 |
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UK Pound |
1 |
Rs.75.47 |
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Euro |
1 |
Rs.61.19 |
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. |
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%)