Wore a crown too đź‘‘
A restructuring partner at US giant Kirkland & Ellis has had his ear pierced in court after promising to do so if he could find a buyer for collapsed accessories retailer Claire’s.
Joshua Sussberg, who is based in K&E’s New York office, made the unusual pledge to a judge in Delaware earlier this year as the once-popular high street chain faced its second Chapter 11 filing in seven years, a type of US bankruptcy proceeding, amid falling in-store sales.
After securing a last-minute deal with a private equity firm, Sussberg kept his promise during a hearing earlier to have his ear pierced at court, reports website 9fin. A member of Claire’s staff did the honours, while Sussberg sported a paper crown adorned with the company’s branding.
“When I made that commitment on the record, the odds of reaching this point were very slim,” Sussberg reportedly told the court. “I stand by my word.”
Judge Brendan Shannon, noting Sussberg’s “crisp white shirt”, wondered aloud if he might shed a tear, although photos later shared by Sussberg suggest the procedure appeared painless.
The deal still needs to formally complete but Sussberg said he would not have gone through with the ear piercing if there had been any real risk of the sale collapsing.
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