How bad of an idea is it to tell my interviewer that I signed somewhere else already on my superday?

I have a super day coming up at a MM HF. I already signed a MM PE offer a few weeks ago and the team size is like 10 people and I'm the only analyst they hired. I feel horrible for even thinking about reneging since I'm kind of screwing over the PE shop, and I'm scared that if I do reneg, there might be consequences since it is such a small team. As a result, I've been thinking that it might be a good idea to tell my interviewers that I've already signed somewhere else but I'm interested in their firm from the start. I would have to obviously spin it somehow but how bad of an idea is this?

Would appreciate any feedback or advice.

Thanks

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