MIRA INFORM REPORT
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Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
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Name : |
EDDIE BAUER LLC |
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Registered Office : |
Corporation Trust Center 1209 Orange
Street, Wilmington, De 19801 |
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Country : |
United States |
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Date of Incorporation : |
21.07.2009 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Retailer of clothing, accessories, and gear for men and women |
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 : |
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 |
Comments on the rating: We suggest caution
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: |
Eddie Bauer LLC |
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Address in the order: |
P O Box 90139 Bellevue Washington 98009-0139 |
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Comments on data supplied: |
The address given by the company is the
Mailing address. The Legal and Operating addresses are
listed below. |
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Legal Name: |
Eddie Bauer LLC |
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Legal Address |
CORPORATION TRUST CENTER 1209 ORANGE
STREET WILMINGTON, DE 19801 USA |
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Operative Address |
10401 Ne 8th Street.Suit 500 Bellevue, WA 98004 USA |
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Telephone: |
(425) 755-6544 |
File Number : |
4711532 |
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Fax: |
(425)-755-7655 |
Legal Form: |
Limited Liability Company |
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Email: |
NA |
Registered in: |
Delaware |
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Website: |
Date Created: |
NA |
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Manager: |
Mr. Neil Fiske Chief Executive Officer and
President |
Date Incorporated: |
July 21,2009 |
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Staff: |
7260 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Retailer of clothing, accessories, and
gear for men and women |
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BANKS
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Name of the Bank |
Bank of America |
BUSINESS
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HISTORY |
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Predecessor company Eddie Bauer Holdings filed for Chapter 11 bankruptcy
protection in mid-2009 and was sold to investment firm Golden Gate Capital
(GGC). |
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PRINCIPAL ACTIVITY |
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Nonagenarian Eddie Bauer is looking to the future with a focus on the past.
The multichannel retailer operates some 365 stores throughout North America,
as well as a catalog and website. The company sells outerwear, apparel, and
accessories for active outdoorsmen and women. It also licenses its name for
furniture, luggage, paint, and Ford vehicles and has stores in Japan through
a joint venture there. |
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Products/Services description: |
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The company's products include shirts, T-shirts, polo shirts, sweaters,
jeans, pants, jackets, casual dresses, tops, swimwear, and dress suits. It
also offers outerwear, shoes, bags, bedding, home products, and
mountaineering gear. |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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Trade References: |
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Despite our searches we were not able to find any company's trade
references. |
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PAYMENTS |
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long |
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Comments on location: |
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The company has over 365 different stores including Japan, and Germany. It is Headquartered
in Bellevue, Washington. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company's shareholder has not been confirmed. |
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Management: |
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Neil Fiske Chief Executive
Officer Steven Newman President of
Apparel Business Judy Neuman Executive
Officer Bill Michel, Senior Vice
President-Marketing Margaret Larson, Senior Vice President Design and Development |
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 |
1,023,440,000 |
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Operating Income |
(45,000,000) |
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Net Income |
(51,000,000) |
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Net worth |
540,000,000 |
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Liabilities |
324,000,000 |
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Legal Fillings |
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There
are UCC** files listed with the Secretary of State . Filing Number: 2010 1531908 Filing Date: 04-30-2010 Secured Party: WILMINGTON TRUST FSB, AS Filing Number: 2009 2472949 Filing Date: 08-03-2009 Secured Party: GOLDEN GATE CAPITAL OPPORTUNITY FUND, L.P.,
AS AGENT Debtor:
EDDIE BAUER LLC Filing Number: 2009 2475280 Filing Date: 08-03-2009 Secured Party: BANK OF AMERICA, N.A., AS Filing Number: 2009 2478839 Filing Date: 08-03-2009 Secured Party: GOLDEN GATE CAPITAL OPPORTUNITY FUND, L.P.,
AS AGENT Debtor:
EDDIE BAUER LLC 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 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 regular 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 structure is losing money. The payments are long. The company’s predecessor file for
bankruptcy and the procedure is still pending according to the Delaware
Bankruptcy court. Extreme caution is required. We suggest a review within 12 months. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.72.49 |
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Euro |
1 |
Rs.63.87 |
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.