MIRA INFORM REPORT

 

 

Report Date :

31.03.2012

 

IDENTIFICATION DETAILS

 

Name :

WARNACO OF CANADA COMPANY

 

 

 

 

Registered Office :

1959, Upper Water Street Halifax (New Scotland) B3J3N2

 

 

 

 

Country :

Canada

 

 

 

 

Year of Establishment :

1977

 

 

 

 

Legal Form :

Corporation for Profit

 

 

 

 

Line of Business :

Distributes a range of Intimate Apparel, Sportswear, and Swimwear. Also Women's Clothes Online, Limited Women's Clothing, Yoga Clothing For Women, Women's Team Apparel and Cato Women's Clothing.

 

 

 

 

No. of Employees :

320

 

 

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

 

Maximum Credit Limit :

USD 1,000,000

Status :

Good

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

 

Comments on data supplied:

Dear client,

The name provided is a trade name of the company, which entered in vigor in 2001-01-30 (Quebec)

Legal Name:

WARNACO OF CANADA COMPANY

Trade Name:

CHAPS, A DIVISION OF WARNACO OF CANADA COMPANY

Legal Address

1959, UPPER WATER STREET

HALIFAX (NEW SCOTLAND)

B3J3N2 (REGISTERED ADDRESS)

Operative Address

20600 Clark Graham

Baie-D, QC H9X 3R8

(HEAD QUARTERS)

Telephone:

514-457-5554

ID :

1144947364

Fax:

514-457-5558

Legal Form:

Corporation for Profit

Email:

 

Registered in:

CANADA

Website:

http://www.warnaco.com

Date Created:

1977

Manager:

contactus@warnaco.com

Date Incorporated:

August 10th 1995

Staff:

320

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Manufacturer / Distributor

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

BUSINESS

 

HISTORY

 

-The company was established in Canada (1995)

 

-2004 change the name from COMPAGNIE WARNACO DU CANADA to WARNACO OF CANADA COMPANY.

PRINCIPAL ACTIVITY

 

Warnaco of Canada Company distributes a range of intimate apparel, sportswear, and swimwear. Also Women's Clothes Online, Limited Women's Clothing, Yoga Clothing For Women, Women's Team Apparel and Cato Women's Clothing.Warnaco of Canada Company operates as a subsidiary of Warnaco Netherlands B.V.

Sales are:

 

Wholesale, Retail

Brands:

 

-AUTHENTIC FITNESS OF CANADA                 

 

-CALVIN KLEIN           

 

-CALVIN KLEIN JEANS            

 

-CHAPS, A DIVISION OF WARNACO OF CANADA

 

-CHAPS, DIVISION DE COMPAGNIE WARNACO DU

 

-CONDITION PHYSIQUE AUTHENTIQUE DU

 

-WARNACO DU CANADA

Clients:

 

Companies related to apparel business, and public in general.

Suppliers:

 

DOU POWER (VN) CO., LTD

LOT 15-16 LINH TRUNG III EPZ & IP TRANG BANG DIST., TAY NINH PROVINCE, VIET NAM 84-0663897693 TELEX 84-0663897693

 

APL LOGISTICS (INDIA) PVT LTD

247 LBS MARG 247 PARK, HINCON HOUSE BOMBAY (MUMBAI) 400083 BOMBAY (MUMBAI) IN 91-2239854265 TELEX 91-2239854292

Operations area:

 

National, Local

The company imports from South America, Europe, Asia

The subject employs 320 employees

PAYMENTS

 

regular

LOCATION

Headquarters

 

20600 Clark Graham

Baie-D, QC H9X 3R8

Branches:

 

The company has branches located at the following addresses:

 

-171 6th Ave W Suite B, Vancouver, Canada

 

-539 King St W Suite 300, Toronto, Canada

 

-103-7710 5 St Se, Calgary, Canada

 

-110 Bloor St W, Toronto, Canada

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is a subsidiary of WARNACO NETHERLANDS B.V., which is located at:

Fazantweg 4zone M452

Klundert, 4791 RR, Netherlands

Phone:168356900

 

In U.S. the followings locations:

 

501 7th Avenue

New York, NY 10018

United States - Map

Phone: 212-287-8000

Fax: 212-370-0832

Website: http://www.warnaco.com

 

Milford, CT Offices

470 Wheelers Farms Road

Milford, CT 06460

(203) 301-7000

contactus@warnaco.com

 

WARNACO NETHERLANDS B.V.. is listed at the stock exchange under WRC.

 

Together with its subsidiaries, designs, sources, markets, licenses, and distributes a line of intimate apparel, sportswear, and swimwear products. It offers sportswear for men, women, and juniors, including jeanswear, knit and woven shirts, tops, and outerwear; intimate apparel comprising bras, panties, sleepwear, loungewear, shapewear, and daywear for women, as well as underwear and sleepwear for men; and swimwear for men, women, juniors, and children, including swim accessories, and fitness and active apparel.

Management:

 

SILVERSTEIN, STANLEY P.

President

171, CHESTNUT STREET ENGLEWOOD NEW JERSEY 070631 ΙTATS-UNIS

 

RUTKOWSKI, LAWRENCE

Vice-President

9, STALLION TRAILS GREENWICH CT 06830 ΙTATS-UNIS

 

Druker Sharon G

Secretary

4700-800 PLACE Victoria Montrιal Quιbec H4Z1H6 Canada

 

Lisk Donna

General Manager

20600 av. Clark-Graham Baie-D'Urfι (Quιbec) H9X4B6 Canada

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the secretary who refused to provide us any financial data without knowing the name of the inquiring party.

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

2010

 

Turnover

131,459,000

 

The cash flow is

NORMAL

 

 

Currency

DATE

USD

2009

Turnover

109,300,000

The cash flow is

NORMAL




 




Currency

DATE

USD

2008

Turnover

115,448,000

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

 

-The company has 17 years experience in the market.

 

-This is a big sized company with experience in the market.

 

-The company has the financial back up of the parent company (Warnaco Netherlands B.V.).

 

-The company's income grew up in 2010 after the 2009 crisis when the income fell down if compare with 2008.

 

-A credit line may be considered for USD 1,000,000

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

CORRECT

 

 

 

 

 

APPENDIX

 

Comments

 

We have contacted the secretary who refused to provide or confirm any kind of information.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.15

UK Pound

1

Rs.81.80

Euro

1

Rs.68.34

 

 

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.