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MIRA INFORM REPORT
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Report No. : |
515843 |
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Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
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Name : |
THE ROBERT ALLEN DURALEE GROUP, INC. |
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Registered Office : |
850 NEW BURTON ROAD SUITE 201, Dover, Delaware |
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Country : |
United States |
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Date of Incorporation : |
1938 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject manufactures and sells furnishing fabrics and provides
furnishings and design services for the residential and hospitality design
community. |
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No. of Employees : |
600 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
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 (31.12.2017) |
Current Rating (01.04.2018) |
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United States |
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 |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $59,500. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and former President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Order: |
THE ROBERT ALLEN GROUP (The Robert Allen Group and Duralee Fabrics, Ltd merged on March 31,
2017 and are now both divisions of The Robert Allen Duralee Group.) |
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Address in the order: |
225 FOXBORO BOULEVARD FOXBORO MA |
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Legal Name: |
THE ROBERT ALLEN DURALEE GROUP, INC. |
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Trade Names: |
THE ROBERT ALLEN GROUP DURALEE FABRICS |
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ID: |
2098513 |
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Date Created: |
1938 |
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Date Incorporated: |
8/11/1986 |
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Legal Address: |
850 NEW BURTON ROAD SUITE 201, Dover, Delaware, USA |
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Operative Address: |
49 Wireless Boulevard, Suite 150 Hauppauge, NY 11788, USA |
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Telephone: |
800.333.3777 |
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Fax: |
800.332.8256 |
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Legal Form: |
CORPORATION |
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Email: |
orders@robertallendesign.com |
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Registered in: |
DELAWARE |
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Website: |
www.robertallendesign.com |
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Contact: |
Lee Silberman – Chief Executive Officer |
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Staff: |
600 |
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Activity: |
SIC Code:5023, Home Furnishings NAICS Code:423220, Home Furnishing Merchant Wholesalers |
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Banks
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BANK OF AMERICA CIT BANK, N.A. THE CHASE MANHATTAN BANK, AS |
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History
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The company was founded in 1938 and is based in Hauppauge, NY. |
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As of March 31, 2017, the company was acquired by Duralee Fabrics Ltd.
The Robert Allen Group and Duralee Fabrics, Ltd have merged. They are
each a division of a new company called The Robert Allen Duralee Group, Inc.
Both The Robert Allen Group and Duralee will continue to operate as separate
divisions and will continue to sell products unique to their respective
brands. *Company is headquartered in DELAWARE and changed name from: THE ROBERT ALLEN GROUP, INC. To THE ROBERT ALLEN DURALEE GROUP, INC. |
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Parent Company: |
The company operates as a subsidiary of: Decor Holdings, Inc. 225 Foxboro Blvd Foxboro, MA 02035 United States |
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PRINCIPAL
ACTIVITY
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The Robert Allen Group manufactures and sells furnishing fabrics and
provides furnishings and design services for the residential and hospitality
design community. |
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Products/Services description: |
It manufactures lacquer red fabrics, chalkboard fabrics, persimmon
fabrics, dew fabrics, designer favorite fabrics, paperbacked wall coverings, custom
furniture, trim fabrics, and drapery hardware; and e-Library, a digital
library that allows exploring collections from computer, smartphone, or
tablet. |
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Brands: |
Robert Allen Beacon Hill Robert Allen Contract Robert Allen @ Home Robert Allen Furniture Duralee Fabrics Duralee Furniture Duralee Drapery Hardware Duralee Contract Duralee Suburban Home DF Monogram Highland Court Bailey & Griffin Lulu DK Clarke & Clarke James Hare |
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Sales are: |
Wholesale |
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Clients: |
Samplexsa De Cv |
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Suppliers: |
Sumec Textile And Light Industry Mar Eks Marmara Tekstil Triplex Shanghai Home Fabrics Hassan |
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Operations area: |
National and International |
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The company imports from |
CHINA TURKEY INDIA |
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The company exports to |
MEXICO |
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The subject employs |
600 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
49 Wireless Boulevard, Suite 150 Hauppauge, NY 11788, USA |
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Comments on Address: |
The address given in the order is the former headquarters address. |
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Branches: |
Furniture Factory 647 Hopewell Rd, Morganton, NC 28655, USA Showroom 1100 Ludlow Street, Suite 306 Philadelphia Pennsylvania,19107, USA Showroom 8687 Melrose Ave Suite B499 Los Angeles California,90069, USA Showroom Boston Design Center One Design Center Place, Suite 317 Boston Massachusetts,2210, USA Showroom 222 Merchandise Mart Plaza, Suite 633 Chicago Illinois,60654 |
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Related Companies: |
Simon Playle Ltd. 2 Michael Rd, Fulham, London SW6 2AD, United Kingdom SOS Yachtservice An der Grenzpappel 41, 28207 Bremen, Germany Vivaldi SRL Via Giuseppe Castiglioni, 121052 Busto Arsizio
VA, Italy |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. The
following information has been provided by private sources and could not be
confirmed: The company operates as a subsidiary of: Decor Holdings, Inc. 225 Foxboro Blvd Foxboro, MA 02035 United States |
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Management: |
Lee Silberman – Chief Executive Officer Kerry Galloway – President McAndrews Donna - Director of Converting and Fabricated Products Lucy Maitland - Designer Laurie Powers - Senior Manager of BI reports to Chief Information
Officer |
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FINANCIAL
INFORMATION
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The company does not make its financial statements
public. The following information has been provided by private sources: |
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USD 2017 |
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Estimated Net Assets |
15.700.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Method and system for product selection Patent number: 6925196 Abstract: A method and system for guiding consumers through a
sophisticated evaluation process for selecting a product that satisfies
desired aesthetic and physical objectives. An embodiment of the method and
system enables a consumer from his/her home to select a fabric by
systematically and efficiently evaluating a multitude of colors, as well as,
other criteria, such as, design and material construction. From a virtual
showroom of swatches, the system presents the consumer an image of the
swatches that best satisfy the selected criteria. Type: Grant Filed: January 22, 2002 Date of Patent: August 2, 2005 Assignee: The Robert Allen Group Inventors: Ronald Kass, David E. Bright, Paul Luba |
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GOVERNMENT CONTRACTS |
Government Contractor Name & Address: THE ROBERT
ALLEN GROUP INC 225 FOXBORO BLVD FOXBORO, MA 02035-2854 Number of Defense Contracts Awarded: 2 Dollar Amount of Defense Contracts Awarded: $11,567 |
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CASES |
Riviera v. The Robert Allen Duralee Group, Inc. Plaintiff: Dean Riviera Defendant: The Robert Allen Duralee Group, Inc. Case Number: 2:2018cv00349 Filed: April 17, 2018 Court: Ohio Southern District Court Office: Columbus Office County: DELAWARE Presiding Judge: James L. Graham Referring Judge: Chelsey M. Vascura Nature of Suit: Recovery of Overpayment and Enforcement of Judgment Cause of Action: 28:1332 Jury Demanded By: Plaintiff |
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TRADEMARKS |
NOBODY DELIVERS COLOR BETTER PILLOWS Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75436783 RA Decorative hardware namely, metal brackets, hooks and bedrails; metal
shower curtain rings Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75467455 SUNWEATHER UPHOLSTERY FABRIC Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75468871 ROBERT ALLEN Potpourri, bag potpourri, giftbox potpourri sets, sachets, scented
fragrant oils and pomanders Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75504805 COLOR LIBRARY METAL PLEATED HOOKS FOR DRAPERIES AND CURTAINS, JEWELRY BOXES OF
METAL, METAL SHOWER CURTAIN RINGS; METAL BELLS; AND METAL… Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75504806 SHORT STORIES Textile fabric for use in the field of home furnishings Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75655949 FABRICTRAC Providing customers with information as to the fulfillment status of
their purchase orders and shipments for goods covered… Owned by: ROBERT ALLEN GROUP, INC., THE Serial Number: 75750734 |
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RENEWAL HISTORY |
No records were found. |
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UCC |
UCC Filing Number: 201739543990 Filing Date: 9/7/2017 Action: Initial Filing Debtor: ROBERT ALLEN GROUP, INC., THE 225 FOXBORO BLVD, FOXBORO AL 02035 Secured Party: CIT BANK, N.A. 10201 CENTURION PARKWAY NORTH, SUITE 100 JACKSONVILLE FL 32256 Debtor Names: THE ROBERT ALLEN
GROUP, INC. 55 CABOT BOULEVARD,
MANSFIELD, MA 02048-0000, USA INTERIOR FABRIC DESIGN, INC. 55
CABOT BLVD., MANSFIELD, MA 02048-0000, USA Secured Party Names: THE CHASE
MANHATTAN BANK, AS COLLATERAL AGENT 200
JERICHO QUADRANGLE, JERICHO, NY 11753-0000, USA File no. File Date Lapse Date Filing Type 162176 08/14/1996 08/14/2001 Financing Statement 179886 08/28/1997 08/14/2001 Financing Statement Amendment 060523 03/23/1998 08/14/2001 Financing Statement Amendment 129212 07/05/2001 08/14/2006 Continuation 099102 04/29/2002 08/14/2006 Termination Debtor Names: THE ROBERT ALLEN
GROUP, INC. 55 CABOT BOULEVARD,
MANSFIELD, MA 02048-0000, USA AMETEX FABRICS, INC. 120
FORBES BOULEVARD, MANSFIELD, MA 02048-0000, USA Secured Party Names: THE CHASE
MANHATTAN BANK, AS COLLATERAL AGENT 200
JERICHO QUADRANGLE, JERICHO, NY 11753-0000, USA File no. File Date Lapse Date Filing Type 162172 08/14/1996 08/14/2001 Financing Statement 179455 08/27/1997 08/14/2001 Financing Statement Amendment 060517 03/23/1998 08/14/2001 Financing Statement Amendment 134020 07/16/2001 08/14/2006 Continuation 099081 04/29/2002 08/14/2006 Termination Debtor Names: THE ROBERT ALLEN
GROUP, INC. 55 CABOT BLVD.,
MANSFIELD, MA 02048-0000, USA ROBERT ALLEN FABRICS, INC. 55
CABOT BLVD., MANSFIELD, MA 02048-0000, USA Secured Party Names: THE CHASE
MANHATTAN BANK, AS COLLATERAL AGENT 200
JERICHO QUADRANGLE, JERICHO, NY 11753-0000, USA File no. File Date Lapse Date Filing Type 162189 08/14/1996 08/14/2001 Financing Statement 179452 08/27/1997 08/14/2001 Financing Statement Amendment 060554 03/23/1998 08/14/2001 Financing Statement Amendment 129210 07/05/2001 08/14/2006 Continuation 099121 04/29/2002 08/14/2006 Termination |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Founded in 1938 The Robert Allen Duralee Group Inc is an organization in
the Home Furnishing Industry headquartered in Hauppauge, NY. The company has 600 regular employees and generates an estimated $15,7
million USD in annual estimated net assets. It operates nationally and internationally, mainly exporting to
Mexico. It is ACTIVE in business with medium credit risk. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW |
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NAME |
Megan |
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POSITION |
Sales |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company, the approximate number of
employees and the name of the Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.17 |
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1 |
INR 90.47 |
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Euro |
1 |
INR 79.74 |
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USD |
1 |
INR 68.54 |
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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PRI |
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Report Prepared
by : |
SYL |
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
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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.