Kirkland Partner’s Ear Piercing Marks Turning Point for Bankrupt Retailer
Kirkland & Ellis bankruptcy partner Joshua Sussberg made a daring promise to U.S. Bankruptcy Judge Brendan Shannon in Delaware: he would pierce his earlobe if he could find a buyer for Claire’s, which has around 1,500 locations in North America and was in Chapter 11 for the second time in seven years due to declining sales. After successfully negotiating with a private equity buyer, Sussberg fulfilled his promise during a recent court hearing. Judge Shannon found Sussberg’s offer quite intriguing.