Donald Hess, who had taken over operations from father Emil Hess, bought Parisian back and--heavy with debt--sold a 45 percent interest to Lehman Brothers in 1990, which injected $35 million into the company.
Donald Hess, who had taken over operations from his father Emil Hess, bought Parisian back in late 1989. Although heavy with debt, the company sold a 45 percent interest to Lehman Brothers in 1990, which injected $35 million into the company.