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Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MARK’S WORK
WEARHOUSE LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.11.1979 |
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Legal Form : |
Alberta Corporation - Profit |
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Line of Business : |
·
Subject operates a chain of apparel stores for
men and women in Subject
offers casual, leisure, and business wear; outdoor apparel; work wear; and
foot wear. · Subject products ranges include casual and dress shirts, hoodies, polos, and T-shirts; casual and dress pants, jeans, and shorts; jackets and vests; casual and dress shoes, hikers, and sandals; and gloves, sleep and lounge products, socks, underwear, and summer accessories for men. |
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No of Employees : |
4,600 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
CANADA - ECONOMIC OVERVIEW
As a high-tech industrial
society in the trillion-dollar class, Canada resembles the US in its
market-oriented economic system, pattern of production, and high living
standards. Since World War II, the impressive growth of the manufacturing,
mining, and service sectors has transformed the nation from a largely rural
economy into one primarily industrial and urban. The 1989 US-Canada Free Trade
Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which
includes Mexico) touched off a dramatic increase in trade and economic
integration with the US, its principal trading partner. Canada enjoys a
substantial trade surplus with the US, which absorbs about three-fourths of
Canadian merchandise exports each year. Canada is the US's largest foreign
supplier of energy, including oil, gas, uranium, and electric power. Given its
abundant natural resources, highly skilled labor force, and modern capital
plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by
the global economic crisis, the economy dropped into a sharp recession in the
final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after
12 years of surplus. Canada's major banks, however, emerged from the financial
crisis of 2008-09 among the strongest in the world, owing to the financial
sector's tradition of conservative lending practices and strong capitalization.
Canada achieved marginal growth in 2010-13 and plans to balance the budget by
2015. In addition, the country's petroleum sector is rapidly expanding, because
Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada
now ranks third in the world in proved oil reserves behind Saudi Arabia and
Venezuela.
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Source
: CIA |
Company name: MARK’S WORK WEARHOUSE LTD.
Headquarters: 1035 64th Avenue SE, Ste
30,
Calgary, Alberta T2H 2J7 –
Canada
Telephone: +1
403-255-9220
Fax: +1 403-255-6005
Website: www.marks.com
Corporate ID#: AB-0203727417
State: Alberta
Judicial form: Alberta Corporation - Profit
Date incorporated: October
3, 1987
Date founded: November 5, 1979
Name of manager: Michael MEDLINE
Business:
Mark's Work Wearhouse Ltd. operates a chain of apparel stores for men
and women in Canada. It offers casual, leisure, and business wear; outdoor
apparel; work wear; and foot wear. Its products include casual and dress shirts,
hoodies, polos, and T-shirts; casual and dress pants, jeans, and shorts;
jackets and vests; casual and dress shoes, hikers, and sandals; and gloves,
sleep and lounge products, socks, underwear, and summer accessories for men.
The company’s products also comprise tops, shirts, T-shirts, sweaters,
and tank tops; bottoms, casual and dress pants, jeans, shorts, and skirts;
jackets and vests; rubber boots, athletic and hiking shoes, sandals, and casual
shoes; socks, summer accessories, and under wear; scrubs; and yoga wear for
women. It also offers work shirts and pants, women's work wear, work boots,
industrial casuals and hikers, rubber boots, women's safety foot wear, rain
wear, accessories, gloves, work socks, and work accessories for industrial needs.
Mark's Work Wearhouse also sells its products online.
The company was founded in 1977 and is based in Calgary, Canada.
Mark’s operates under the banners “Mark’s”, “Mark’s Work Wearhouse”,
“Work World” and in
Mark’s also conducts a business-to-business operation under the name
“Imagewear, a Division of Mark’s Work Wearhouse”.
Staff: 4,600
Operations & branches:
At the headquarters, we
find the corporate headquarters and office, on lease.
The Company maintains over 348 direct stores and 37 franchise stores in
Canada.
Shareholders:
CANADIAN TIRE CORPORATION,
LIMITED (+50%)
2180 Yonge Street
Toronto, Ontario M4S 2B9 –
Canada
Public Company quoted with
the TSE under symbol CTC.
Canadian Tire Corp is a network of businesses offering general
merchandise, clothing, petroleum, financial services and automotive parts.
Management:
Michael MEDLINE is the President and Director.
Present here since 11-27-2012
He has had a tremendous 13-year career with CTC, which includes
overseeing a revamped strategy for the Automotive business, leading the
Company’s corporate services group as Chief Corporate Officer and serving as a
director on the Board of Canadian Tire Bank.
Most recently the President of FGL Sports and Mark’s, Michael has led
all of the Company’s acquisitions and integration efforts in the last 11 years.
Harry P. TAYLOR is the COO.
Other Directors include Robyn A. COLLVER, Harry P. TAYLOR, and Dean
McCANN.
John CHIMIENTI is Secretary.
In Canada, privately held
corporations are not required to publish any financials.
However, from the annual report
of the parent company, we find:
Sales 2013: CAD
1,060,800,000=
Sales 2012: CAD
1,016,600,000=
The business is profitable.
Banks: Royal Bank of Canada
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None