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Report No. : |
317090 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
COMARK INC. |
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Registered Office : |
6789 Millcreek Drive, Mississauga, Ontario L5N 5M4 |
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Country : |
Canada |
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Date of Incorporation : |
30.01.1988 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject operates a chain of specialty fashion retail stores in Canada.
It offers professional suiting, relaxed separates, and casual options,
including tops and blouses, sweaters, tees and camis, dresses, pants,
leggings, jeans, skirts, blazers, and outerwear; and accessories, such as
earrings, bracelets and rings, necklaces, hats and belts, scarves, handbags,
small accessories, and jewelry. |
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No. of Employees : |
4,500+ |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 early intervention by the Bank of Canada and the financial
sector's tradition of conservative lending practices and strong capitalization.
Canada achieved marginal growth in 2010-14 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.
|
Source
: CIA |
Your order on: RICKIS DIVISION OF COMARK INC
1470 Inkster Blvd,
Winnipeg, Manitoba R2X 2W2 – Canada
The correct name is: COMARK
INC.
Company name: COMARK INC.
Headquarters: 6789 Millcreek Drive, Mississauga,
Ontario L5N 5M4 Canada
Telephone: +1
905-567-7375
Fax: +1 905-567-5965
Website: www.comark.ca
Corporate ID#: 4240405
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 02-29-2004
Date founded: 01-30-1988
Stock: -
Value: -
Name of manager: Gerald
BACHYNSKI
Business:
Comark Inc. operates a chain of specialty fashion retail stores in Canada.
It offers professional suiting, relaxed separates, and casual options,
including tops and blouses, sweaters, tees and camis, dresses, pants, leggings,
jeans, skirts, blazers, and outerwear; and accessories, such as earrings,
bracelets and rings, necklaces, hats and belts, scarves, handbags, small
accessories, and jewelry.
The company also provides jeans, fashion tops, tees and tanks, sweaters
and cardigans, fleece, jackets and blazers, leggings and pants, dresses,
skirts, capris, shorts, jewelry, and accessories for women; and jeans, shirts,
graphic tees, fashion tees, sweaters, fleece, jackets, pants, and accessories
for men.
In addition, it offers necklaces, bracelets, earrings, rings, and
watches; and accessories, including shapers, socks and tights, home and gift
accessories. The company offers products primarily for working women and
younger adults. It also sells products online.
The company was founded in 1976 and is based in Mississauga, Canada.
Comark is a leading Canadian specialty fashion retailer, serving
customers through three popular divisions:
- Ricki's
- Cleo
- Bootlegger
Today, 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.
Staff: 4,500+
Operations & branches:
At above address, we find a
large store, warehouse and office, owned.
It maintains a store
located:
1670 Inkster Boulevard Winnipeg, Manitoba R2X 2W8
Ph: + 1 204-633-5500
Fx: +1 204-694-9689
Email: service@rickis.com
Shareholders:
SKMCOM HOLDINGS SARL
Luxemburg
through its US office located 153 E. 53rd Street, New York,
NY 10022 – USA
Richard SCHULTE
6789 Millcreek Drive, Mississauga, Ontario L5N 5M4 Canada
AXIS CAPITAL FUND I, LP
6 Arabian, Coto de Caza, CA 92679 - USA
Management:
Gerald BACHYNSKI, President
and CEO
He has been Chief Executive Officer and President of Comark, Inc. since
December 2007.
He has been Chief Executive Officer and President of Comark, Inc. since
December 2007. Mr. Bachynski served as the President of Ricki's since 1988 and
Chief Operating Officer of Comark, Inc.
Mr. Bachynski began his career with Laventhol & Horwath in a
consulting capacity. He joined the prior family owners of Ricki s in the Fall
of 1975 and was responsible for a variety of business holdings/interests.
After the sale of Ricki s to Comark, he became General Manager of
Mannequin, an upscale ladies wear division of Ricki s and took over as
President of Ricki s in 1988.
Mr. Bachynski is a former Bell Canada Fellowship winner and holds both a
Bachelor of Commerce (Hons.) degree and an MBA from the University of Manitoba.
Bill KING, Vice President
and CFO
He serves as Vice President and Chief Financial Officer of Comark Inc.
Mr. King joined Comark in August 2003 with 16 years experience in a
variety of national and multi-national retail organizations. Mr. King is
responsible for leadership of all Finance, I.T., and Supply Chain functions
within Comark. From 1998 to 2003, he held a number of senior financial
positions, most recently Vice-President, Finance, at Zellers Inc. From 1996 to
1998, he was Controller of Venator Canada Inc. (now Foot Locker Inc.) and
previously held senior financial roles in both the quick-service restaurant and
supermarket industries. Mr. King is a member of the Institute of Chartered
Accountants of Ontario and holds a Bachelor of Commerce (Hons.) degree from
Memorial University.
Dan SAUCIER, COO
He serves as the Chief Operating Officer of Comark, Inc. Mr. Saucier
joined Comark in September 2009. He has over 25 years of senior retail
operations experience. Prior to Comark, he served as the Chief Operating
Officer of CMT Clothing operating 130+ stores under the Costa Blanca and Urban
Behavior banners.
Prior to that, he was with the Winner’s/ HomeSense organization as
Senior Vice President Director of Stores, where he was responsible for senior
regional staff and the day to day operations of all 300 stores. Prior to
Winners, Mr. Saucier held various senior positions in IKEA throughout North
America.
Subsidiaries &
Partnership: None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for fiscal
year ending June 2014 is in the range of
CAD 400,000,000= (same as
2013)
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
Trade references:
Date reported: March 2015
High credit: CAD 100,000
Now owing: 0
Past due: 0
Last purchase: February 2015
Line of business: Office supply
Paying status: 3 days beyond terms
Date reported: March 2015
High credit: CAD 5,000,000+
Now owing: 0
Past due: 0
Last purchase: February 2015
Line of business: Payroll
Paying status: As agreed
Date reported: March 2015
High credit: CAD 12,000
Now owing: 0
Past due: 0
Last purchase: February 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus
gave a correct medium credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 0 to 2 days beyond terms.
International credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
April 1, 2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
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|
1 |
Rs.91.05 |
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Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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|
|
Report Prepared
by : |
TPT |
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.