MIRA INFORM REPORT
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Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
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Name : |
LANDRY & ARCARI INC. |
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Registered Office : |
3 Pleasant Street, Salem, MA 01970 |
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Country : |
United States |
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Date of Incorporation : |
26.08.1986 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Selling Oriental Rugs |
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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Maximum Credit Limit : |
USD 30,000. |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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: |
Landry And Arcari |
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Address in the order: |
63 Flint Street, Salem, MA-01970 |
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Legal Name: |
LANDRY & ARCARI INC. |
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Trade Name: |
LANDRY & ARCARI ORIENTAL RUGS AND CARPETING |
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Legal Address |
3 Pleasant Street, Salem, MA 01970, USA |
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Operative Address |
63 Flint St, Salem, MA 01970, USA |
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Telephone: |
+ 1 (978) 744 5909 |
Identification Number : |
042965486 |
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Fax: |
+ 1 (978) 744-6769 |
Legal Form: |
Corporation for Profit |
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Email: |
contact@landryandarcari.com |
Registered in: |
Massachusetts |
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Website: |
www.landryandarcari.com |
Date Created: |
1981 |
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Manager: |
Jerry Arcari, Founder |
Date Incorporated: |
August 26,1986 |
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Staff: |
9-30 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Selling oriental rugs. |
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BANK
Name of the Bank
SHAWMUT BANK
BUSINESS
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HISTORY |
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Our show it was established in 1981 and incorporated in Massachusetts. |
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PRINCIPAL ACTIVITY |
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LANDRY & ARCARI INC. is
selling Oriental rugs and carpets. The structure is also doing business as LANDRY & ARCARI ORIENTAL
RUGS AND CARPETING. The company’s staff confirmed that the company’s DBA was previously
registered as a name (up to 1990). |
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Products/Services description: |
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The company offers: -
Expert hand-woven Oriental rug repair and
restoration -
Hand washing and cleaning designed specifically
for oriental rugs -
Moth-proofing & packaging for storage -
Padding for every rug and surface The company also buys older oriental rugs. They also have hand washing and cleaning designed specifically for
oriental rugs. They provide appraisal of oriental rugs, accepted by all insurance
companies and finally carpeting installations. |
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Sales are: |
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Retail |
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Operations area: |
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National |
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Trade references: |
We were not able to confirm the trade references with the staff. |
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Branches: |
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The company has showrooms in Boston's Back Bay and in Salem, MA. |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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It is a family owned business. The Arcari family owns the business |
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Management: |
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Ken Mullin, Dan Rantz, Deliveries, Mike Anderson, Fabrication, Jerry Arcari, Founder. |
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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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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
$2.5 to 5 million |
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Legal Fillings |
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There are no recent UCC** files listed with
the Secretary of State of Massachusetts. There are no legal filings listed with the
District Court. The last annual report was filed on 2010. 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 United States citizens and permanent residents are prohibited from doing
business. ** 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 United States of America. 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 records 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 correct 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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The company is a small company that has
been in business for several years. It has a working staff of 30 people. There are no legal incidences against this
company. Financial results for 2010 appear to be
positive. A credit line may be considered for USD
30,000. |
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SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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The receptionist confirmed the company’s name and operative address. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.38 |
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UK Pound |
1 |
Rs.71.24 |
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Euro |
1 |
Rs.64.16 |
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.