MIRA INFORM REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
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Name : |
SOFTLINE HOME FASHIONS INC |
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Registered Office : |
National Corporate Research, Ltd, 615 South Dupont Hwy, Dover,De,19901
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Country : |
United States |
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Date of Incorporation : |
11.08.2001 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Importer & distributor
of Ready Made Curtains, Decorative Fabrics & Pillows for the home |
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 : |
Exists |
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: |
Softline Home Fashions Inc |
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Address in the order: |
13122 S. Normandie Ave,
Gardena CA 90249 |
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Legal Name: |
Softline Home Fashions Inc |
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Legal Address |
NATIONAL CORPORATE RESEARCH, LTD 615 SOUTH DUPONT HWY DOVER,DE,19901, USA |
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Operative Address |
13122 S Normandie Ave, Gardena, CA 90249-2128, USA |
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Telephone: |
+ 1 (310) 630-4848 |
Legal Form: |
Corporation for Profit |
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Fax: |
+ 1 (310) 630-4858 |
Registered in: |
Delaware |
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Email: |
info@softlineonline.com |
Date Created: |
NA |
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Website: |
www.softlineonline.com |
Date Incorporated: |
August 11, 2001 |
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Manager: |
Mr. Mr. Jason Carr, Chief Executive Officer |
Stock: |
NA |
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Staff: |
50-99 employees |
Value: |
NA |
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Activity: |
Importer & distributor of Ready Made Curtains, Decorative Fabrics
& Pillows for the home |
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BANKS
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Name of the Bank |
CALIFORNIA BANK & TRUST |
BUSINESS
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PRINCIPAL ACTIVITY |
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Softline Home Fashions Inc. operates as an importer and distributor of
decorating fabrics for the home. Softline Home Fashions Inc. is based in Gardena, California. |
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Products/Services description: |
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It offers faux silks, curtains, mattresses and cushions, pillows,
bags, embroideries, laces, plain and fancy organzas, plain and crushed voile,
satins, linens, suedes and velvets, and accessories. |
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Sales are: |
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Wholesale |
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Brands: |
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Evidence of Evolution-Green line |
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Clients: |
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The company serves the fabric retail stores, mass merchants,
department and chain stores, manufacturers, jobbers, converters, gift shops,
catalog companies, and hospitality markets. |
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Operations area: |
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National, International |
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Trade References: |
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The company's trade references were not confirmed with the staff. |
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PAYMENTS |
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regular |
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Branches: |
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New York Atlanta Canada |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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We believe that the Carr family is among the company's main
shareholders. |
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Management: |
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Mr. Jason Carr Co-founder and Co-Chief Executive Officer Mr. Rodney Carr Co-founder and Co-Chief Executive Officer Ms. Maria Tolentino General Manager |
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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 |
20,000,000-50,000,000 |
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Legal Fillings |
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There are no recent UCC** files listed with
the Secretary of State. There are legal filings listed with the
District Court. RFC Case Number: C-S09-8892I Court Case Number: 2:09-cv-08892-DSF-PJW File Date: Thursday, December 03, 2009 Plaintiff: Softline Home Fashions, Inc. Counsel: C.G. Gordon Martin of Law Offices of C.G.
Gordon Martin Defendant: International Ace Tex, Inc. Does 1-10 Cause: 17:501 Copyright Infringement Court: California Central District Court Judge: Judge Dale S. Fischer Referred To: Magistrate Judge Patrick J.
Walsh 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 medium 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 business is established. The ratio income per employee is pretty
good for the company’s size. The legal filings found, do not appear to
threaten the company’s creditworthiness. The structure can bear a credit line. A business connection can be conducted |
SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
CORRECT |
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APPENDIX
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Comments |
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The company's operator confirmed the location of the business. |
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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.44.82 |
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UK Pound |
1 |
Rs.72.84 |
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Euro |
1 |
Rs.64.58 |
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.