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.

Latest Headlines

in Music, Entertainment

Lorde curating ‘Hunger Games’ soundtrack

lorde

The 17-year-old pop star is recording a single for the third installment of the franchise.

in Entertainment

David Cassidy reportedly skips court for race track

cassidy

The '70s heartthrob was reportedly at the race track while his attorney was in court representing him on a drunken driving charge.

in Music

PHOTOS: Inside Michael Jackson’s Neverland Ranch

AP041217025232_18

Five years after the King of Pop's death, his iconic California home is about to be sold.

in Lifestyle

Adults embrace art, science sleepovers

museum

Kids have been sleeping overnight in museums across the country for years and now adults are getting in on the fun.

in Entertainment

Stars hold out for big payday on ‘Big Bang Theory’

bigbang

Production of the hit comedy is on hold as the show's stars demand big bucks.