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 National

Thomas Menino, Boston’s longest-serving mayor, dead at 71

menino

The longest-serving mayor in Boston history who led the city after the 2013 marathon bombing, has died.

in National

U.S. economy grows 3.5% in third quarter

shopping

A smaller trade deficit and a surge in defense spending buoyed U.S. economic growth in the third quarter.

in Local

Woman Crashes into Deerfield Restaurant

news-polic

A woman who police say drove through the wall of a Franklin County restaurant as people were having breakfast, will be charged with driving under the influence

in Trending, Viral Videos

TODAY’S MUST SEE: Daniel Radcliffe ‘raps’ the alphabet

17-overlay3

The "Harry Potter" star performs the tongue-twisting "Alphabet Aerobics" and it's hilarious.

in Local

Insurance Fraud Ringleader Arraigned

handcuffs

A New York has been arraigned on a slew of new charges in Hampshire Superior Court