MIRA INFORM
REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
RESTORATION HARDWARE INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02.04.1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Specialty retailer of furniture, bath ware, hardware, lighting, textiles, accessories, and related merchandise |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
Unknown |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Restoration Hardware |
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Address in the order: |
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Legal Name: |
RESTORATION HARDWARE INC |
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Legal Address |
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Operative Address |
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Telephone: |
(415) 924-1005 |
ID : |
2873173 |
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Fax: |
(415) 927-9133 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
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Website: |
Date Created: |
1979 |
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Manager: |
Gary G. Friedman, President and Chief Executive Officer. |
Date Incorporated: |
April 02, 1998 |
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Staff: |
3800 (at group level) |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Specialty retailer of furniture, bath ware, hardware, lighting,
textiles, accessories, and related merchandise. |
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BANKS
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Name of the Bank |
BANK OF |
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Name of the Bank |
CITIBANK |
BUSINESS
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HISTORY |
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The company was created in 1979. |
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PRINCIPAL ACTIVITY |
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Specialty retailer of furniture, bath ware, hardware, lighting,
textiles, accessories, and related merchandise. |
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Products/Services description: |
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Furniture, bath ware, hardware, lighting, textiles, accessories It also manufactures a line of furniture for the home. The company provides its products through retail locations and
catalogs, as well as through a Web site, restorationhardware.com. |
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Sales are: |
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Retail |
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Clients: |
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General Clientele |
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Operations area: |
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National, International, Local |
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The company does not import |
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The company export to |
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The subject employs 3800 (At group level) employee(s) |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at 15 Koch Rd Ste J, |
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Comments on location: |
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The company was incorporated in the state of |
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Branches: |
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This company has another location at |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This company is privately held. It was publicly traded NASDAQ Stock
Exchange under the symbol “RSTO”, but in 2008 it was acquired for $175
million by private equity firms Catterton Partners and Tower Three Partners. |
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Management: |
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-Gary G. Friedman, Chairman, Chief Executive Officer and
President, -Chris Newman, Senior Vice President and Chief Financial Officer, -Ken Dunaj, Chief Operating Officer, -Vivian MacDonald , Vice President and Principal Accounting
Officer, -Bonnie McConnell-Orofino, Chief Merchandising Officer. |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Caroline who refused to provide us with that
information per security purposes |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
722,243,000 |
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Operating Income |
(43,146,000) |
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Net Income |
(51,936,000) |
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Legal Fillings |
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There are 184 UCC** files listed with the
Secretary of State of California. We have found a collective law suit
against the subject company: On December 17, 2009 the U.S. Consumer
Product Safety Commission (CPSC) in association with Airtex Design Group Inc.
and Restoration Hardware Baby And Child issued a nationwide recall of Restoration
Hardware Baby And Child Roman Shades. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by individuals
(in business as a sole proprietor), business entities and corporations. |
Rating
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Local credit bureau gave a Low credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final
Opinion |
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This is a large sized As we could not obtain any financial figure
for the year 2009, and the profitability for the year 2008 was negative. There were several legal filings found
against the company we strongly recommend working with GUARANTEES. |
SUMMARY
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Profitability |
N.A. |
Public
Records |
Unknown |
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Indebtedness |
N.A. |
Payments |
Unknown |
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Cash |
N.A. |
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APPENDIX
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Person Interviewed |
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Caroline |
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Position |
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Receptionist |
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Comments |
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The person contacted at the company refused to provide that
information on grounds of confidentiality |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.