State employee retirement fund sides with Hugo Boss workers

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State employee retirement fund sides with Hugo Boss workers

Plain Dealer – The state employees pension system wants Hugo Boss to re-evaluate its decision to close its men's suit factory in Brooklyn.

The Ohio Public Employees Retirement System "has concerns about future involvement" with the business if the plant closes, OPERS wrote in a letter to Permira Advisors, the private equity firm that owns Hugo Boss.

The decision to close the plant will cost hundreds of jobs and "implicates" OPERS because the system invested in Permira Advisors, OPERS Chairman Ken Thomas and Chief Executive Officer Chris DeRose wrote Feb. 25.

"The board finds it unfortunate to have to address a question of Ohio job loss as an investor in the fund," according to the letter, sent at the urging of union workers.

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