Bono’s clothing company loses $9 million

The clothing company of U2 frontman Bono and his wife Ali Hewson was rancked up $9 million in loses last year.

The singer established the clothing company Edun in 2005 to stimulate business in Africa but accounts filed for the firm show it plunged into the red last year.

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

It is believed that luxury business group LVMH, which owns Moet champagne and fashion house Louis Vuitton, purchased an "important" stake in Edun last year.