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

Bet you didn’t know: Fun facts about the Fourth

13-overlay

Even the most patriotic among us can learn something from these little-known facts about Independence Day.

in National

Stronger economy, cheap gas means more people on the road

gasprices

More than 40 million Americans are expected to hit the road for the long holiday weekend.

in Lifestyle, National

5 ways to save money on your summer road trip

roadtrip

While a domestic road trip might appear like an affordable alternative to traveling abroad, costs can easily spiral out of control.

in National

Campaign highlights stress of fireworks on combat veterans

fireworks

For hundreds of thousands of veterans with post-traumatic stress disorder, symptoms can be worsened by the cracks and thunder of celebratory fireworks.

in National

Are airlines colluding to keep fares high?

airlines

The U.S. Department of Justice is investigating whether airlines worked together illegally to keep airfares high by signaling plans to limit flights.