Detroit's Sakthi Automotive appears likely to shutter

[hybridy]

But the soon to be shuttered plant is 'prime real estate'....provided your employees don't rob you

Sakthi Automotive Group USA Inc. was the first new automotive parts supplier to open in Detroit in about a decade. The knuckle and steering arm supplier transformed a shuttered ArvinMeritor plant and planned to repurpose the 98-year-old defunct Southwestern High School into a training center. It prioritized hiring Detroiters and became the state's benchmark employer for its returning citizens program by hiring more than 200 parolees.

In the complaint, which is still ongoing, Kumar alleges the company performed well, netting a profit of $4.4 million between January 2018 and June 2018 even after discovering "corporate theft" of $4.5 million through a financial review. In a phone call with Crain's, Kumar said a ring of employees stole equipment from a warehouse and sold it, eventually resulting in an FBI investigation.

Kinda of buried the lead there Crain's.

[Zacha341]

Great! Inside criminal theft ruins a wonderful opportunity for those who wanted to turn their life around.