It looks like the problem is simply the result of a typo. Look really closely at the first list item you have:
<li class="erclientlogos"><a href="http://trelisecooperonline.com/" target="_blank"><img src="http://kud4105web.e-retailer.co.nz/user/files/er_tc_logo.png"</a>
</li>
You're missing a >
to close out your image before the </a>
. Add that and you should be good.