I did that once. I kept the hose because they are thick wool and warm, but I can't keep them pulled up because they shrank. They're flat like you described. It really irritates me, too, because they're my navy blue ones, which go best with my Clergy tartan kilt. They look(ed) fantastic as formal wear... but now I have to wear my lovat blue ones until I can replace my navy ones.
I feel your pain, man.
"Two things are infinite- the universe, and human stupidity; and I'm not sure about the universe." Albert Einstein.
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