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 Entertainment

Today in entertainment history: Nov. 28

willienelson

A look at the Hollywood headlines that went down in history.

in Black Friday, Entertainment

‘Frozen’ tops Barbie as top girls’ holiday pick

frozen

The results marked the first time in 11 years that Barbie hasn't held the No. 1 spot in the annual toy survey.

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 Weird

Is that banana loaded?

banana

A Colorado man is facing a felony charge after two deputies say he pointed a banana at them.

in Entertainment

Today in entertainment history: Nov. 27

beatles

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