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Bono's clothing company fails, already

U2's Bono announced this week in a press conference that Edun, the clothing company he and his wife launched last year, will be closing.

The failure definitely wasn't due to lack of publicity, with celebrities like Lindsy Lohan, Kate Bosworth, Heath Ledger and Michelle Williams taking part in Edun's One campaign. Maybe the fact that Bono said that Edun's clothes were for the fashion-impaired had something to do with the company's failure. (Does anyone really want to admit that?) Sales were so poor that keeping the company open just didn't make sense anymore.

"Edun clothes sold so poorly that we were increasing Third World debt by having them manufactured in the Third World," said Bono. Ouch!

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