Losses continue to mount at ethical clothing company founded by Bono

Losses continued to mount last year at the ethical clothing company founded by Bono and his wife Ali Hewson.

New figures lodged with the Companies Office show that Edun Apparel Ltd recorded a loss of $7.88m (€5.9m) in the 12 months to the end of December last (2012) and this followed the firm recording losses of $8.5m in 2011.

The two established the global fashion brand in 2005 in an effort to bring about positive change through its trading relationship with Africa and its positioning as a creative force in contemporary fashion.