Apply what you’ve learned
It didn’t take long for Kellwood’s PR barrage to show results. And just like that, it was over almost as quickly as it had begun.
“Within 24 hours, I got a call basically saying that they are back at the table,” Kramer says. “We got back to the table, extended the bonds and won.”
The experience caused a lot of stress for everyone, but it also built a great deal of camaraderie on the leadership team.
“Some of my people said to me after it was over and we had renegotiated the extension of the bonds and everything was fine, it was almost like when you come off this euphoria,” Kramer says. “You go back to normal. You’re on this high and your energy levels are on an all-time high and you’re operating on adrenaline.
“We were bonded. We work closer together. We’ve gone through crises together. We know we can count on each other during the crises. We know people’s strengths and weaknesses better than we ever have.”
The ultimate lesson, of course, is that no matter how bleak things look, you should have trust in yourself and the way you run your company.
“There were many times during that four days where we thought we could be forced to go into bankruptcy,” Kramer says. “We just kept fighting. If you believe in your gut in terms of the momentum of your company and what you’re doing and you are financially sound, you’ve got to believe that the intellectual argument will always win.”
So with the battle won, what was the first thing Kramer did to celebrate?
“Once we got through it all, we got on a plane and went to L.A. and sat on a beach,” Kramer says.
How to reach: Kellwood Co., (314) 576-3100 or www.kellwood.com
