Several good responses here and I can understand and agree with all of them.
SMYDA's response is very honorable and I can say that I've BTDT. Not in business but with auto accidents. Had the opportunity to sue big time over a crash....didn't. Took what was due through insurance and moved on.
Fast forward years later, was the cause of a pretty decent crash. No one died or really even injured, but the possibility for a suit based on what I was driving (county vehicle), and the other cars involved, and with PI attornies at thier heyday.....and no suit....Karma

I try to take the "high road" whenever possible.
mrvette's response also strikes a bell. I've personally known so lying, conieving bastards that ended up with throat cancer! I've known some other worthless SOB's that cheated a lot of people, and ended upp dead with some disease
I really do believe in Karma.
FWIW, I'll give you the technical side:
First-Check the statute of limitations in your state on property loss/civil suits. I know in Florida on a personal injury claim resulting from an auto accident, you have 4 years to file the suit. So check and make sure you're not wasting your time.
Also, make sure you check your paperwork and his property at the shop. Were there signs or did you sign anything, that exempted him from liability for lost or stolen property?
Then, although you can do the rest yourself, I'd hire an attorney.
Have them send him a demand letter for the amount of damages and demand his insurance information.
Have him send a letter to the insurance company as well demanding coverage limits.
If you find out they paid a claim on the matter, you now have a criminal case on your hands. Insurance fraud. Turn it over to the locals and keep going with the civil aspect of things.
If it were never paid, file a suit against him and his insurer for the losses +++.
If in the alternative, it was paid and he kept the money, file against him only to recover the amount due ++++.
This can be a long and somewhat expensive proposition, one you can eventually win and likely recover attorney fees and costs (otherwise-don't do it. The attorney fee's alone will eat up your settlement on a hourly basis.)
Finally, make sure before you do anything, that he and/or the business, is solvent.
Make sure that there's some possibility of recovering your damages if awarded by the courts.
There's something about blood and a Turnip that keeps running through my head:wink:
Best of luck with it.