Persistent losses have forced Benefun International Holdings to offload its core business, the Benetton chain of 17 clothing stores in Hong Kong, for only $6 million. The company said the retail business sold had made an after-tax loss of $3.9 million in the year to June 1997. It is expected to report an unaudited pretax operating loss of $38.15 million for the year to June this year. After the sale the company would continue to be engaged in managing its own 'Fun' retail chain of 250 clothing outlets in the mainland, which achieved $178 million in sales and $55 million profit for the year to June last year.