A young entrepreneur has taken over a family hosiery business following a management buyout.
Tights Tights Tights was started as a small shop in the Metrocentre in Gateshead 21 years ago and has been run by Carol and Nigel Stocks for the past 11 years.
Since then, the company has established a strong online presence and now supplies an extensive range of tights, stockings, hold-ups and socks across the globe from its head office and distribution centre in Morpeth, Northumberland.
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Mr and Mrs Stocks say it has been the face-to-face retail experience over the years that has also driven online success, building an understanding of customers’ needs to give them a competitive advantage over other online hosiery businesses.
After 11 years of running the company, the couple decided to sell up and retire, paving the way for Allana Loftus, 26, to take on the company.
Ms Loftus has worked at Tights Tights Tights for almost three years and is keen to maintain the values of a family run business, so has employed her mother to work alongside her while also acquiring her father’s help in the warehouse.
She was advised by Daniel Bell, a solicitor in Mincoffs Solicitors’ corporate team, and now has plans for the company’s future.
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She said: “After working for the company and absolutely loving everything about it, it was an honour to be able to buy it. I saw a fantastic opportunity that I did not want to miss out on.
“Being able to work every day with my family is a dream come true in itself.
“I received the most professional and enjoyable experience from Daniel at Mincoffs Solicitors. He kept me updated at every stage of the transition, replied to my queries immediately and supported me throughout. The whole time it was stress free and I knew I was in safe hands.”
Mr Bell added: “Assisting Allana in her acquisition of Tights Tights Tights has been a pleasure. Allana’s knowledge of the business and enthusiasm for taking it over was clear to see from the very start and I’m certain Tights Tights Tights has an exciting future ahead under her ownership.”