Well this is sad and surprising!
In spite of announcing a major philanthropic effort, Hugo Boss AG has just announced that it will close its Cleveland plant.
The decision came on Wednesday based on the plant’s low capacity and, “the fact that it is not globally competitive.” Fortunately, the brand will continue to pay the 300 factory workers through the end of April.
At least they’re paying their workers, but we’re sorry to hear that they’re feeling the economic heat!
Hopefully this isn’t a sign of greater demise ahead.
[Image via AP Images.]