BONO'S BROTHER Norman Hewson still hasn't found what he's looking for judging by the latest accounts for his Dublin-based restaurant operation Nude, which specialises in organic food and juices.
The accounts show that Nude's accumulated losses rose to just more than €3 million in the year to the end of December 2007, from €2.7 million in the previous 12 months.
Nude Ltd was left with a deficit in shareholders' funds at the end of the year of €1.3 million, after share capital of €253,948 and shareholders' loans of €1.5 million were taken into account.
In its report on the financial statements, issued on September 28th, 2008, Nude's auditors, Houlihan Cushnahan Co, raised concerns about the company's ability to continue to trade but stopped short of issuing a qualification.
"The future of the company is uncertain, and therefore the going concern basis of accounting may not be appropriate," the auditors' report states.
"In view of the significance of this uncertainty, we consider that it should be drawn to your attention, but our opinion is not qualified in this respect."
Several calls to Nude seeking a comment from proprietor Hewson were not returned.
Nude operates a handful of restaurants in Dublin, including its flagship outlet just off Grafton Street.
Having failed to cash in during the boom years, Hewson will have his work cut out hauling Nude into the black in these recessionary times.
