 The name Dylex, which had once been used by Kay for one of his holding companies, was an acronym for "damn your lousy excuses," a phrase that reflected the mentality of the company's new management.Kay and the dominant Posluns family member, Wilfred Posluns, established a reputation for acquiring ailing retail chains and injecting them with new life, a characteristic of their jointly controlled company as it developed into a retail giant.Tip Top Tailors was the first example of a rapid turnaround, a company whose former executives offered numerous reasons for its anemic performance, none of which were accepted by Kay or Posluns.