Loss Prevention Services has roots in Natchez
Published 4:39 pm Monday, September 21, 2020
NATCHEZ — In 1992, Sterling Gay’s father, Clayton Gay, founded a repossession recovery company in Natchez called All Star Recovery located on Devereux Drive but later moved to Briarwood Drive.
Sterling was only 14 years old and a student at Cathedral school when his father started the business, he said.
Sterling and his brother, Shannon, worked with their father, who died last year, in the business.
“Throughout the years alongside my brother’s and my efforts we continued to grow into what is today a different entity, Loss Prevention Services,” Sterling said.
The business relocated to Grandville, Michigan, approximately 10 years ago with approximately 10 employees, Sterling said.
Loss Prevention Services provides solutions such as recovery management, transportation, titling and remarketing, as well as data processing for many national Fortune 500 financial institutions, according to a press release.
The company’s new 45,000-square-foot facility will be located in the former Regions building at 321 Franklin St. and will be able to accommodate staffing needs of more than 300 local employees.
Loss Prevention Services will continue to maintain its existing office location in Grandville, Michigan.
“We are going to continue to keep the Grandville facility open, and we are going to continue to operate with two headquarters,” Sterling said after a Monday press conference announcing that the business was locating a headquarters to downtown Natchez. “We grew the company to approximately 190 employees in Grandville, Michigan. Now because of organic and potential acquisition growth, we anticipate bringing the business, predominantly here, our corporate headquarters here, but we will continue to maintain two sites, so we will be in Natchez, Mississippi, as well as our Grandville, Michigan, site.”
Sterling said he was happy to be bringing the business to downtown Natchez.
“It is a great honor, certainly,” Sterling said of the business coming to Natchez. “I’m humbled by the support from the State of Mississippi and the City of Natchez for making this project complete, and it is certainly a great honor to be able to provide jobs here in the community and in my hometown. I’m excited. Very thankful and blessed and look forward to growing in our hometown.”