GAFFNEY, S.C. AP – A venture capital firm run by Mitt Romney created nearly 150 jobs in Gaffney, S.C., in the late 1980s only to eliminate them four years later and earn millions of dollars in profits.
The Associated Press reviewed Bain Capital’s little-known investments at The Holson Burnes Group. Bain doubled its $10 million investment into the clock and photo supply company. But workers in South Carolina and New Hampshire lost their jobs as the company consolidated and expanded its operations overseas.
