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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Year of Establishment : |
1975 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Subject designs and markets home furniture and furnishings. |
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No. of Employees : |
600 |
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 : |
No Complaints |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Canada |
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 |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100.00 CAD = 98.1089 USD |
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Comments on data supplied: |
The address provided by the client belong
to the company´s Distribution Centre. |
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Legal Name: |
BOMBAY & CO. INC. (ordered as Bombay And Co) |
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Trade Name: |
BOMBAY |
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Legal Address |
98 Orfus Road Toronto, ON, M6A 1L9 |
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Operative Address |
98 Orfus Road Toronto, ON, M6A 1L9 |
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Telephone: |
+1(877)326 -6229 |
: |
N/A |
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Fax: |
N/A |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Canada |
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Website: |
Date Created: |
1975 |
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Manager: |
Vicki L. Bradley - President |
Date Incorporated: |
1975 |
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Staff: |
600 |
Stock: |
N/A |
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Value: |
N/A |
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Activity: |
The Bombay Furniture Company of Canada Inc. designs and markets home
furniture and furnishings. |
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Name of the Bank |
TD Bank |
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Location |
Canada |
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HISTORY |
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The Bombay Company was founded in 1975 and began as a mail order
business based in New Orleans. The Bombay Company filed for Chapter 11 bankruptcy protection on
September 20, 2007. The company was sold to Gordon Brothers and Hilco. As of January 21, 2008, all U.S. retail stores were liquidated and
closed. In February 2008, Hilco, and Gordon Brothers purchased all
intellectual capital of the Bombay Company, including the Bombay Company
website, and created Bombay Brands, a company that will sell Bombay merchandise
through other retail outfits. Bombay's Canadian operations were purchased by the B&C Group,
which operates the Benix and Bowring retail banners in Canada. Press releases: "Bombay & Co., Inc. Selects TD Retail Card Services To Create
And Administer Private Label Credit Card Program" May 29, 2012 Bombay & Co., Inc., selected TD Retail Card Services to create and
administer its private label credit card. The new Bombay & Company credit card will offer consumers a full
menu of deferred interest and equal pay programs. |
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PRINCIPAL ACTIVITY |
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The company designs and markets home furniture and furnishings. |
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Products/Services description: |
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The company offers home accessories, wall décor, and furniture through
a network of retail locations. |
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Sales are: |
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Retail |
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Brands: |
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The company works with the brand called BOMBAY. This brand belongs to Hermes-Otto International USA LLC (subsidiary of
Otto Group) that purchased the Bombay Company trademarks and intellectual
property from Hilco Consumer Capital and Gordon Brothers Group in 2011. The deal did not include Bombay and Co. Inc., a company that has
exclusive right to sell Bombay products in Canada. |
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Operations area: |
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National |
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Competitors: |
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Cymax Stores Inc. HomeSence J.Pascal´s Hardware and Furniture Leon´s Furniture Limited N. Tepperman Limited |
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The subject employs 600 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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98 Orfus Road Toronto, ON, M6A 1L9 |
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The property is: |
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Owned |
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Branches: |
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operates through 48 stores in over nine Canadian provinces, including
25 stores in Ontario, eight stores in Quebec, five stores in British Columbia,
three stores in Alberta and one store each in Newfoundland and Manitoba. The
company`s remaining stores are located in Nova Scotia. |
Manager - Related
Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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It is a private company that operates as a subsidiary of Benix &
Co., Inc. |
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Management: |
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Mr. Fred Benitah - President |
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Related Companies: |
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The Bombay Furniture Company of Canada Inc. (sister company) 3475 Steeles Avenue East Brampton, ON L6T 5W4 Canada |
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 the company several
times but we were tranferred to voice mail. We left a message but it was not
answered yet. |
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Legal Fillings |
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The sources consulted record no
detrimental legal or labor court information. |
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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 was founded in 1975 and began as
a mail order business based in New Orleans. On September 20, 2007 it filed for Chapter
11 bankruptcy protection . The company was sold to Gordon Brothers and Hilco. As of January 21, 2008, all U.S. retail
stores were liquidated and closed. In February 2008, Hilco, and Gordon
Brothers purchased all intellectual capital of the Bombay Company, including
the Bombay Company website, and created Bombay Brands, a company that will
sell Bombay merchandise through other retail outfits. Bombay's Canadian operations were
purchased by the B&C Group, which operates the Benix and Bowring retail
banners in Canada. The company operates through 48 stores in
over nine Canadian provinces, including 25 stores in Ontario, eight stores in
Quebec, five stores in British Columbia, three stores in Alberta and one
store each in Newfoundland and Manitoba. The company`s remaining stores are located
in Nova Scotia. Moreover it is a big size privately held
company, with 600 employees and it has exclusive right to sell Bombay products
in Canada. We did not find any detrimental
information about the company in the recent years.. |
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Profitability |
GOOD |
Public |
NO |
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Indebtedness |
N.A. |
Payments |
N.A. |
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Cash |
N.A. |
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Comments |
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We have contacted the company but we were transferred to voice mail
several times. We left a message but it has not been answered yet. However, the answering machine provides us of the company´s legal name
and location. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.55 |
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UK Pound |
1 |
Rs.85.48 |
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Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.