MIRA INFORM REPORT

Report Date :

06.08.2014

IDENTIFICATION DETAILS

Name :	DEPT. STORE B.V.

Registered Office :	Mangaan 11 5234GD 's-Hertogenbosch

Country :	Netherlands

Financials (as on) :	31.12.2011

Date of Incorporation :	07.05.1987

Com. Reg. No.:	16053644

Legal Form :	Besloten Vennootschap

Line of Business :	Retail sale of ladies' and men's outerwear (general assortment)

No. of Employees :	12

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherlands

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NETHERLANDS - ECONOMIC OVERVIEW

The Dutch economy is the fifth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit of 3.8% of GDP.

Source : CIA

CONTACTINFORMATION

Company name	Dept. Store B.V.
Tradename	Dept. Store B.V.
Address	Mangaan 11
	5234GD 's-Hertogenbosch
	Netherlands
Mail address	Mangaan 11
	5234GD 's-Hertogenbosch
	Netherlands
Telephone number	0736147458
E-mail address	info@thomascook.nl
Website	www.dept.com
VAT number / RSIN	008204226
Branch(es)	Dept. Store B.V. (16053644.0001)
	Steenweg 44
	3511JS UTRECHT
	Dept. Store B.V. (16053644.0002)
	Heiligeweg 49 -51
	1012XP AMSTERDAM
	Dept. Store B.V. (16053644.0003)
	Kleine Staat 20
	6211EE MAASTRICHT
	Dept. Store B.V. (16053644.0004)
	Leidsestraat 9
	1017NS AMSTERDAM
	Dept. Store B.V. (16053644.0005)
	Bataviaplein 77
	8242PP LELYSTAD

CALAMITY

Calamity Default

Date: 02-01-2013

Reference: F.12/1218

Judge commissioner Mr. P.J. Neijt

Trustee	mr. Ph.W. Schreurs
	Moeskampweg 3
	5222AW 's-Hertogenbosch
	Telephone: 040-7630000
Court	Court 's-Hertogenbosch
	Visiting address: Leeghwaterlaan 8
	5223BA 's-Hertogenbosch
	Telephone: 0736202020
	Mail address: Postbus 7058
	5201CZ 's-Hertogenbosch

CREDIT LIMIT

Credit limit	A relation with this company is not advised
Risk factor	Insolvent / Activities ceased

COMPANY STRUCTURE

Shareholder Dept B.V.

Mangaan 11

5234GD 'S-HERTOGENBOSCH

Netherlands

KvK: 16049874

Active since: 16-01-2008

Percentage: 100.00%

Ultimate parent company Zinvest Fashion B.V.

Heuvel 19

5664HL GELDROP

KvK: 17215045

Holding company Dept B.V.

Mangaan 11

5234GD 'S-HERTOGENBOSCH

KvK: 16049874

Bank ING Bank NV

MANAGEMENT

Management	H. Pieterman
	Hans
	Authorization: Fully authorized
	Position: Manager
	Date appointed: 30-11-2012
	Date of birth: 06-06-1955

FINANCIAL INFORMATION

Publication financial statement Annual accounts 2011 are published on 06-12-2012

Annual accounts 2010 are published on 02-05-2011

Annual accounts 2009 are published on 22-07-2010

Annual accounts 2008 are published on 23-10-2009

Annual accounts 2007 are published on 10-09-2008

Type of publication Corporate

Publication Publication according to obligations by law

CORE FIGURES

BOOKYEAR	2011	2010	2009
Quick ratio	0,99	0,71	3,86
Current ratio	1,36	1,71	5,22
Nett workingcapital / Balance total	0,27	0,19	0,59
Capital and reserves / Balance total	-0,20	0,74	0,78
Capital and reserves / Fixed assets	-	1,33	2,85
Solvency	-0,27	2,84	5,61
Nett workingcapital	758.013	905.220	3.060.662
Capital and reserves	-557.987	3.615.810	4.069.711
Change capital and reserves	-115,43%	-11,15%	378,51%
change short term liabilities	65,13%	75,25%	8,21%
Operating profit		2.741.000	10.296.000
Nett Turnover		46.964.000	52.753.000

Annual accounts The company is obligated to publish its annual accounts

Last annual accounts 2011

Type of publication Consolidated

Turnover 2010: 46.964.000

2009: 52.753.000

Gross profit 2008: 20.433.000

2007: 26.205.000

2006: 16.570.000

Operating profit 2010: 2.741.000

2009: 10.296.000

2008: 9.009.000

2007: 5.319.000

2006: 2.604.000

Result after taxes 2010: 1.132.000

2009: 6.874.000

2008: 6.488.000

2007: 3.859.000

2006: 1.865.000

Tendency Activities are suspended

Capital and reserves 2011 -557.987

Total debt 2011 3.416.809

Current ratio 2011 1,36

Quick ratio 2011 0,99

Nett workingcapital 2011 758.013

Currency Euro

Balance

BOOKYEAR	2011	2010	2009
End of bookyear	31-12-2011	31-12-2010	31-12-2009
Intangible assets		297.500	350.000
Tangible assets		2.406.396	1.077.662
Financial assets		6.694	2
Fixed assets		2.710.590	1.427.664

Stocks and work in progress	784.727	1.276.556	986.919
Accounts receivable	1.733.137	551.306	2.300.225
Liquid assets	340.958	349.541	499.444
Current assets	2.858.822	2.177.403	3.786.588
Total assets	2.858.822	4.887.993	5.214.252

Capital and reserves	-557.987	3.615.810	4.069.711
Provisions	1.316.000		418.615
Total short term debt	2.100.809	1.272.183	725.926
Total debt	3.416.809	1.272.183	1.144.541
Total Liabilities	2.858.822	4.887.993	5.214.252

PROFIT & LOSS ACCOUNT
BOOKYEAR		2010	2009
Turnover		46.285.000	49.253.000
Other operating income		679.000	3.500.000
Nett Turnover		46.964.000	52.753.000
Wages employees		8.133.000	4.889.000
Depreciation and amortization		1.479.000	966.000
Raw materials		23.324.000	25.440.000
Other operating charges		11.287.000	11.162.000
Operating charges		44.223.000	42.457.000
Operating profit		2.741.000	10.296.000
Financial income		387.000	325.000
Financial charges		1.054.000	835.000
Financial result		-667.000	-510.000
Result before taxes		2.074.000	9.786.000
Income taxes		943.000	2.912.000
Result after taxes		1.131.000	6.874.000
Nett result		1.132.000	6.874.000

History

Merger and demerger

Op 21-12-2010 merger taken place. New registration: Dept. Store B.V., 16053644 Disappearing registration: Dept. Store Breda B.V., 17148743 Dept. Store Enschede B.V., 17155832.

Op 04-11-2010 merger proposal filed. New registration: Dept. Store B.V., 16053644 Disappearing registration: Dept. Store Breda B.V., 17148743 Dept. Store Enschede B.V., 17155832.

Management

Per 30-11-2012 manager Hans Pieterman appointed.

Per 30-11-2012 manager 16049874 Dept B.V. out of office.

Company structure

• Zinvest Fashion B.V. (17215045) GELDROP

o Dept B.V. (16049874)

'S-HERTOGENBOSCH

Subsidiary

■ Dept. Store B.V. (16053644) 's-Hertogenbosch Subsidiary Calamity: Default

o J.C. Rags B.V. (16064764)

's-Hertogenbosch

Subsidiary o Thijm B.V. (17082982)

BEST

Subsidiary o Hoth B.V. (24241812)

GELDROP

Subsidiary

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.86
UK Pound	1	Rs.102.67
Euro	1	Rs.81.69

INFORMATION DETAILS

Report Prepared by :

DPT

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.

Handelsregisternummer	16053644
Registered in	Chamber of commerce Brabant
First registration	07-05-1987
Act of foundation	18-02-1987
Date of constitution	01-03-1997
Last change in statutes	20-11-1997
Legal form	Besloten Vennootschap
Place of constitution	's-Hertogenbosch
Issued capital	20.420,11
Paid up capital	20.420,11

Employees	Total: 12
Employees according to CoC	Chamber of commerce: 12
Bookyear	2013	2012	2011
Number	12	12	73
Change	0,00%	-83,56%	5,80%