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MIRA INFORM REPORT
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Report No. : |
483034 |
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Report Date : |
02.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BED BATH’N’TABLE PTY LTD |
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Registered Office : |
255 Burwood Road Hawthorn, Victoria 3122
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Country : |
Australia |
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Date of Incorporation : |
15.07.1976 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the
retail of a diverse range of homewares including Stock includes towels, linen
(sets and individual), bathroom accessories, giftware (frames, candles, teddy
bears), Bedwear (dressing gowns and pyjamas), cushions, pillows, continental
quilts, throw rugs and more. |
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No. of Employees : |
1,200 to 1,300 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2017 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China has stalled and sharp drops in current prices have impacted growth.
The services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control.
Australia benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed due to falling global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas Project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with India and Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New Zealand and India.
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Source
: CIA |
Company
name
BED BATH’N’TABLE PTY LTD
ACN: 005 216 866
ABN: 66 005 216 866
Summary
Panel
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Established |
1960’s |
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Incorporated |
1976 |
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Line of Business |
Retail homewares chain |
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Status |
Trading |
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Chief Executive Officer |
DEMPSEY, JONATHAN DAVID |
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Adverse Listings |
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EXECUTIVE
SUMMARY
Current financial details could not be obtained for the current
enquiry.
For the last financial year ended 30 June 2016 the subject
recorded revenue in the order of $200 million.
In the 12 months from June 2015 to June 2016 store numbers
increased from 120 to 135. They were set to increase to 150 by the end of this
calendar year.
Net Assets in June 2016 were valued at $65,000,000.
CORPORATE SEARCH
Company Type Australian Proprietary
Company
Incorporation Date: 15
Jul 1976
Incorporation State: Victoria
Registered Office 255
BURWOOD Road
HAWTHORN,
Victoria 3122 Australia
Number of Shares Issued: 12
Paid Capital: 12
Shareholders DOMESTIC
TEXTILE CORPORATION PTY. LTD
Number
of Shares: 12
Directors DEMPSEY,
JONATHAN DAVID
Appointment
Date: 15 May 1992
Date of Birth: 05 Oct 1961
Gender: Male
Address: 15 HARCOURT Street HAWTHORN EAST,
Victoria 3123 Australia
Resident Overseas: No
Secretary JONATHAN
DAVID DEMPSEY
Appointment
Date: 07 Aug 2000
SECURITY
INTERESTS
Effective 30 January 2012 the Personal Property Securities
Register (PPSR) was introduced to give
the different Commonwealth, State and Territory laws and registers regarding
security interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State
and Territory personal property security registers will close. Interests
registered on existing security interest registers will be migrated to the
national PPS Register. Subsequently Registered Charges are no longer lodged
with the Australian Securities and Investments Commission (ASIC).
Please contact us should you require a search of the PPSR.
BUSINESS STRUCTURE
TRADING ADDRESS 255
Burwood Rd
HAWTHORN,
VIC 3122
TELEPHONE (613)
8888 8100
WEBSITE www.bedbathntable.com.au
ASSOCIATED ENTITY BED
BATH N TABLE NZ P/L
HOLDING ENTITY DOMESTIC
TEXTILE CORPORATION P/L
ULTIMATE HOLDING
ENTITY THE
DEMPSEY GROUP P/L
RETAIL OUTLETS The subject
maintains 150 Stores across Australia
BANK ANZ
BANKING GROUP
EMPLOYEES 1,200
to 1,300
BACKGROUND
The subject was incorporated in Victoria on 15 July 1976 as
Demcart P/L, before adopting the current style on 10 May 1991.
The group has origins that date back to the 1960’s.
OPERATIONS
The subject operates in the retail of a diverse range of homewares
including Stock includes towels, linen (sets and individual), bathroom
accessories, giftware (frames, candles, teddy bears), Bedwear (dressing gowns
and pyjamas), cushions, pillows, continental quilts, throw rugs and more.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of on 2 January 2018 failed to trace any litigation
listed against the subject at that date.
FINANCES
The subject is not required to lodge financial statements with the
Australian Securities and Investments Commission.
During the current investigation contact with Finance Manager, Mark
Jacobson was unable to be established. It was advised that he is on annual
leave and is not due to return until the week commencing 2 January 2017.
As a result current financial details could not be obtained for
the current enquiry.
Previous enquiries have revealed that for the last financial year
ended 30 June 2016 the subject recorded revenue in the order of $200 million.
This compares to revenue of $160 million for the previous corresponding year
ended 30 June 2015.
From June 2015 to June 2016 store numbers increased from 120 to
135. They were set to increase to 150 by the end of the 2017 calendar year.
For the year ended 30 June 2013 the subject traded profitably and
recorded revenue of $125,000,000. This compares to revenue of $125,000,000 for the
previous corresponding year ended 30 June 2012.
For the year ended 30 June 2011 the subject traded profitably and
recorded revenue of $95,000,000.
For the year ended 30 June 2009 the subject recorded revenue of
$70,000,000. This compares to revenue of $65,000,000 for the year ended 30 June
2008.
The subject maintains access to financing facilities with its
bankers which are used to assist in funding working capital requirements.
Net Assets in June 2016 were valued at $65,000,000.
TRADE SURVEY
During the current investigation, contact with the subject’s
principals was unable to be established.
Subsequently details pertaining to the company’s suppliers were
unable to be obtained and a trade survey could not be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.67 |
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1 |
INR 85.90 |
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Euro |
1 |
INR 75.47 |
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AUD |
1 |
INR 49.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.