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

9 hours ago in Viral Videos

This ‘Game of Thrones’ inspired Mother’s Day gift is sure to be a hit

24-overlay-1

Still looking for a last minute gift for mom? Jimmy Kimmel has got you covered.

14 hours ago in Music

Scott Stapp signs on to replace Scott Weiland in Art of Anarchy

scottstapp

Weiland fronted the group, which also featured Disturbed bassist John Moyer and former Guns N' Roses guitarist Ron 'Bumblefoot' Thal, until his death in December.

14 hours ago in Music

Iron Maiden lead Kerrang! nominations

ironmaidenplane

The veteran heavy metal band released "The Book of Souls" last year, marking their first offering in five years. The hiatus proved to be worth the wait after the record was nominated for Best Album by bosses at the British rock magazine.

14 hours ago in Viral Videos

An honest trailer for ‘Captain America’

14-overlay-2

Let's celebrate this weekend's release of "Captain America: Civil War" by looking back on the 1990 never-released movie that gives the Dolph Lundgren "Punisher" film a painfully slow run for its money.

14 hours ago in Music

Radiohead releases single under cloud of intrigue

12-overlay-1

The British rockers returned to the Internet with a new music video, after the band stumped fans by deleting all posts on their Twitter account over the weekend.