MIRA INFORM REPORT

 

 

Report Date :

03.07.2012

s

IDENTIFICATION DETAILS

 

Name :

COMARK INC (RICKIS  BOOTLEGGER  CLEO PETITES)

 

 

Registered Office :

6789 Millcreek Drive, Mississauga (Ontario), Canada, l5n5m4

 

 

Country :

Canada

 

 

Year of Establishment :

1976

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Clothing stores.

 

 

No. of Employees :

600

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GEOPOLITICS – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation:Medium

 

 

IDENTIFICATION

 

Legal Name:

COMARK INC (RICKIS  BOOTLEGGER  CLEO PETITES)

Trade Name:

RICKIS / BOOTLEGGER / CLEO PETITES

Legal Address

6789 MILLCREEK DRIVE, MISSISSAUGA (ONTARIO), CANADA, L5N5M4

Operative Address

6789 MILLCREEK DRIVE, MISSISSAUGA (ONTARIO), CANADA, L5N5M4

Telephone:

(905) 567-7375

ID :

1143064138

Fax:

(905) 567-5965

Legal Form:

Corporation for Profit

Email:

info@comark.ca

Registered in:

Quebec

Website:

http://www.comark.ca

Date Created:

1976

Manager:

Gerry Bachynski             President & CEO

Date Incorporated:

February 28th 1995

Staff:

600

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Clothing stores.

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

BUSINESS

 

HISTORY

 

COMARK INC was created in 1976

 

BOOTLEGGER INC. was Dissolved in 1993-06-14 and became a division of COMARK INC

 

COMARK INC was acquired in February 2005 by an investment fund managed by COFRA Holding AG

PRINCIPAL ACTIVITY

 

Comark Inc. operates a chain of specialty fashion apparel stores in Canada.

Products/Services description:

 

Comark Inc offers tops, sweaters, tees and camis, blazers and vests, workwear essentials, pants, custom fit pants, jeans, skirts, dresses, outerwear, cold weather accessories, accessories, jewelry, and casuals. It offers products primarily for working women and younger adults.

Sales are:

 

Retail

Brands:

 

Ricki's

Bootlegger

Cleo

 

Clients:

 

Public in general

Suppliers:

 

HIGH HOPE INTL GROUP JIANGSU

WOOLLEN KNIT& GARMTEX IMP EXPCORP.LTD.91 BAI XIA ROAD NANJINGCHINA

 

GRADE IDEA LIMITED

WINNING CTR. 29 TAI YAU ST., SAN PO KONG, KOWLOON , HONG KONG .

 

INGDAO WONHEE CRAFTS CO LTD

.NANTUAN VILLAGE CHENGYANG TOWNCHENGYANG DISTRICT QINGDAO CHINA

 

DAWN FAME LTD

UNIT 2401A 24F PARK-IN COMM CENTRE 56 DUNDAS ST MONGKOK KOWLOON HONGKONG

 

Dawee Corporation

64 91 Jangwi Dong Sungbuk Ku Seoul Korea

 

Yantai Aec Clothes Co., Ltd.

Qingdao Economic And Technical Decelopment Area China 86 532 8079 0219

Operations area:

 

National, Local

The company imports from Asia mainly.

The company does not export

The subject employs  600 employees

Comments on staff:

 

The person contacted provided an estimated number of employees, however we believe is higher.

PAYMENTS

 

regular

LOCATION

Headquarters

 

6789 MILLCREEK DRIVE, MISSISSAUGA (ONTARIO), CANADA, L5N5M4

The property is:

 

Owned

Branches:

 

All three divisions are represented across Canada, and the business has grown to over 300 stores – currently 142 Ricki’s, 91 Bootlegger and 85 cleo locations.

 




 

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

Comark Inc. is a former subsidiary of COFRA Holding AG.

 

COFRA Holding AG operates as a holding company and through its subsidiaries, engages in the retail, real estate, private equity, financial services, and renewable energies activities.

 

Grafenauweg 10

Zug,  6301

Switzerland

Founded in 2001

Management:

 

Mr. Gerry Bachynski, Chief Executive Officer and President

 

Mr. William King, Chief Financial Officer and Vice-President

 

Mr. Dan Saucier, Chief Operating Officer

 

Mr. Chris Phillips, President of Bootlegger

 

Mr. Roger Cyr, Director of Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

As a private company the subject does not publish any financial statements.

 

We have contacted Ms. Danielle Ninnim who refused to provide us any financial data on grounds of confidentiality.

 

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.

 

 

Currency

DATE

 

USD

2011

 

Turnover

395,000,000     

 

The cash flow is

Normal

 

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.



 Rating

 

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.

 

 

 Final Opinion

 

Comark Inc. was founded in 1976 and is based in Mississauga, Canada, it operates a chain of specialty fashion apparel stores in Canada, they have three divisions (Ricki’s, Bootlegger and Cleo), this company currently helds over 300 stores around Canada. Comark Inc. is a former subsidiary of COFRA Holding AG (COFRA Holding AG operates as a holding company and through its subsidiaries, engages in the retail, real estate, private equity, financial services, and renewable energies activities).

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 




APPENDIX

 

Person Interviewed

 

Ms. Danielle Ninnim

Position

 

Sales

Comments

 

She confirmed some of the information for this report.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.83

UK Pound

1

Rs.87.41

Euro

1

Rs.70.43

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.