Bono’s Clothing Company Suffers Losses

U2 frontman BONO and his wife suffered a financial blow last year (09) as their clothing company racked up $9 million (£6 million) in losses.

The rocker and his wife Ali Hewson set up Edun in 2005 to stimulate business in Africa but accounts filed for the ethical fashion firm show it plunged into the red last year.

The debts were 90 per cent bigger than in 2008, according to official documents obtained by British newspaper The Sun.

Luxury business group LVMH, which owns Moet champagne and couture house Louis Vuitton, is believed to have bought an “important” stake in Edun last year.