August 17, 2022

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MBO completed at hosiery business | North East Deals News



A management buyout (MBO) has been completed at a Northumberland-based hosiery business, supported by Mincoffs Solicitors.

Tights Tights Tights started out as a small shop in the Metrocentre, Gateshead in 2000. It 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.

Having successfully ran the company for the past 11 years, previous owners Carol and Nigel Stocks made the decision to retire and sell the business.

Allana Loftus, who has worked at Tights Tights Tights for almost three years, has now completed an MBO.

Loftus is keen to maintain the values of a family run business, employing her mum to work alongside her and acquiring her dad’s help in the warehouse.

She was advised by Daniel Bell, a solicitor in Mincoffs Solicitors’ corporate team. Bell said: “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. I wish Allana the best of luck.”

Allana Loftus added: “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. I would only use Mincoffs going forward.”