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, Viral Videos

Jimmy Fallon’s favorite #ThanksgivingFails

13-overlay6

Think you've had a rough Thanksgiving? It could always be worse.

in Entertainment

Today in entertainment history: Nov. 27

beatles

A look at some of the Hollywood headlines that made history.

in Black Friday, Entertainment

‘TIS THE SEASON: Holiday specials airing this week

Frosty the Snowman

Here's a look at Christmas classics and new holiday favorites airing this weekend.

in Black Friday, Entertainment, National

Obama pardons ‘Cheese,’ America’s top turkey

turkeypardon

The President pardoned the official Thanksgiving turkey in a tradition that is truly American.

in Entertainment

Harrison Ford signs on to ‘Blade Runner’ sequel

harrisonford

The actor will reprise his 1982 role as bounty hunter Rick Deckard.

Weather

condition Condition: Overcast
Temperature: 34°
High: 32° - Low: 26°