Send them to the office? Sure. The principal also has those two options, for the most part. Suspending students is something we only do in very rare circumstances, but they really, really try to avoid it, because so often, kids are acting out because of stuff at home, so suspending them only makes the behaviour worse.
As someone who was bullied all the way until the start of high school, I would probably look the other way if my hypothetical children seriously hurt someone over repeated bullying. I think any alternative is better than that for everyone involved.