Sock Shop is to open its first outlet in the UK after falling into administration three and a half years ago.
The retailer’s owner, Ruia Group – the hosiery and textiles manufacturer that bought the brand from administrators in 2006 – will open a store in Manchester Airport this week.
Ruia head of retail Amit Ruia told the Telegraph that the store will be the first of at least 10 to be launched in the next five years with a view to open more than 20 in the long term.
Sock Shop has been operated as an online store for the past few years. Ruia said sales had increased tenfold to £750,000 since the company bought the retailer, with like-for-likes soaring 40 per cent at present.
Sock Shop was founded in 1983 and floated on the Unlisted Securities Market — the former equivalent of AIM — in 1987. It went through three administrations between 1990 and 2006.
Ruia said: “There is recognition and affection for Sock Shop, which was great in the 1980s. There have been several owners – large Plcs who have not been passionate about socks. Now it has come back to people [who have been] in the trade for more than 20 years and that’s why we will make it a success.”