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 Headlines

in Black Friday, Entertainment

Santa’s little helpers break world record in Bangkok

Fresh
elf

Thousands of schoolchildren helped break the world record for the largest gathering of Christmas elves.

in Music

Prince is off all social media

Fresh
prince

The "Purple Rain" hitmaker delighted fans by posting his first selfie but it appears he had a change of heart about connecting with fans online.

in Music

Bon Jovi is ‘hard-pressed’ to let Sambora back in the band

bonjovi

Jon Bon Jovi appears to have severed ties with former bandmate Richie Sambora.

in Music

Phil Rudd arrives late to court with bizarre antics

philrudd

The former AC/DC drummer's "dirty deeds" just keep piling up.

in Sports, Weird

50 years later, skating team claims Olympics bronze

skating

Fifty years after Vivian and Ronald Joseph skated at the Innsbruck Olympics, the American pair officially got their medals.

Bellingham Traffic