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

Clinton ran ‘homebrew’ computer system for official emails

Fresh
hillaryclinton

The practice of Clinton, a likely Democratic presidential candidate, physically running her own email as a Cabinet-level official is highly unusual.

in National

Different views of bombing suspect to be given at trial

Fresh
marathonbomb

Two dramatically different portraits of the Boston Marathon Bombing suspect are expected to emerge at his federal death penalty trial.

in National

Boehner escapes jam on DHS vote, but more GOP battles loom

Fresh
boehner

House Speaker John Boehner's job is safe despite passing another big bill that most of his Republican colleagues opposed.

in National

10 FOR TODAY: Wednesday, March 4

Fresh
giants

Your daily look at the stories that will be talked about today.

in National, World

After Netanyahu warnings, U.S. and Iran resume talks

Fresh
irantalks

The U.S. and Iranian foreign ministers are beginning a third day of talks over Iran's nuclear program.