By: Scott B. Riddle, Esq.
The Macon Telegraph has an article today (click here) on the potential closing of the Collins & Aikman plant in Americus, Georgia, amid investigations into financial fraud. Over 300 jobs may be lost.
David Youngman, vice president of corporate communications for Collins & Aikman Corp. of Southfield, Mich., said the plant could "cease operations" within the next few weeks unless another company takes over. …
Collins & Aikman announced in mid-November that it was trying to sell all of its factories and assets around the country because of its financial problems. Some of the company’s plants have attracted buyer interest, but not the Americus plant, Youngman said….
Collins & Aikman filed for Chapter 11 bankruptcy protection last year, and a prosecutor confirmed earlier this month that its former chairman and CEO, David Stockman, is a target of an investigation into possible financial fraud at the company.