MIRA INFORM REPORT
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Report Date : |
15.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPARKLE LLC |
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Registered Office : |
2525 South Seventeenth Street, Wilmington, NC 28401 |
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Country : |
United States |
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Date of Incorporation : |
09.12.2003 |
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Com. Reg. No.: |
0701887 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importer, Wholesaler and 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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company
Name
SPARKLE LLC
Company
acronym
---
Contact Information
|
Address |
2525 South Seventeenth Street Wilmington, NC 28401 USA |
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Telephone |
910-350-3100 |
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Fax |
910-350-3311 |
Registration Data
|
Date of Registration |
December 9, 2003 |
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Registration number |
0701887 |
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Legal address |
2525 South Seventeenth Street Wilmington, NC 28401 USA |
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Legal Form |
LLC |
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Share Capital |
- |
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Other Registration Data |
Sparkle, LLC was created in 2004 by the Zimmer family. It acquired Reeds Jewelers in May, 2004. |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Zimmer family |
100% |
Board/Executive
|
Name |
Alan M. ZIMMER |
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Position within the company |
President and CEO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Holding company.
Importer, wholesaler and retailer of jewelry.
Staff
|
Number of staff
employed |
685 (for the group) |
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
|
Rented |
Office |
|
Premises Size |
1,000 sq. feet |
Subsidiaries
and Participation
|
Parent Company |
Zimmer family |
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Subsidiaries |
REED JEWELERS INC. 2525 South Seventeenth Street, Wilmington, NC 28401 Operating about 90 jewelry stores mainly in malls in 18 states from
Texas to Delaware, Reeds offers diamond rings and jewelry, gold jewelry and
chains, gemstone rings, watches, and other baubles. Though most operate under
the Reeds Jewelers name, in malls where Reeds has already staked a claim,
stores are called Mills Jewelers; Reeds also sells products via its Web site
and catalog. Diamonds (mostly up to one carat in weight) and gems account for
almost 60% of the firm's sales. The family of president and CEO Alan Zimmer
acquired Reeds in 2004. |
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Affiliates |
- |
Branches
|
Address |
90 jewelry stores mainly in malls in 18 states from Texas to Delaware. |
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
|
Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Bank |
|
Figures are |
Declared (consolidate) |
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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. |
|
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. |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.46 |
|
UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)