News

Bono’s ‘ethical’ clothing line records huge losses

Bono’s ‘ethical’ clothing line records huge losses

Bono and his wife Ali Hewson's ethical clothing range has been dealt a blow. Photo: Associated Press

Bono and his wife Ali Hewson’s ethical clothing range has been dealt a blow after recording losses of $7.8 million.

Figures filed with Ireland’s Companies Office show that Edun Apparel Ltd made huge losses in the last 12 months, amounting to millions.

The company’s failure to pull in profits over the last year follows 2011’s dire finances, when the company recorded losses of $8.5 million.

Despite the situation, directors at the company state in the report that they are “very satisfied with progress during the year, which was in line with the (five-year) strategic business plan projections.”

The celebrity couple launched the retailer in 2005 to help promote the African fashion industry and improve the continent’s trade around the globe.

Recent News

in Music

Watch 1,000 people play ‘Learn to Fly’

23-overlay20

This is the most amazing Foo Fighters tribute band ever.

in Entertainment

NETFLIX: Watch it before it’s gone

netflix

These titles are expiring soon - so start binge watching now!

in Viral Videos

Watch this reporter confront the woman accused of stealing his identity

14-overlay19

An accused credit card thief picked the wrong guy when she used a credit card number belonging to Texas consumer affairs reporter Steve Noviello.

in Entertainment

‘Partridge Family’ star David Cassidy discusses bankruptcy auction

20-overlay9

The '70s star is putting his Florida mansion up for auction in September.

in Entertainment

Stallone puts ‘Rocky,’ ‘Rambo’ memorabilia up for auction

sylvesterstallone

"Rambo" and "Rocky" fans no longer have to fight Sylvester Stallone for a piece of those movies' memorabilia.