A potential game-changing proposal surfaces in the ongoing Market Basket supermarket chain leadership dispute.
Sources report ousted company President and CEO Arthur T. Demoulas announced Wednesday he will make an offer to purchase the share of the family business held by relatives who supported his firing last month.
“We care deeply about Market Basket and all of our associates and we want to work together to return the company to its successful model for serving our loyal customers. Those who received the offer need to consider the matter, so we are not in a position to comment further at this time,” a statement from Demoulas said.
The news comes after the company’s board of directors scheduled a meeting to take place at 4 p.m., Friday, at the offices of the law firm of Ropes & Grey, 800 Boylston Street, Boston. The meeting comes as protesting employees seeking Arthur T.’s reinstatement hold another large rally at a Market Basket store on Main Street in Tewksbury on Friday morning. The group of workers known as “Save Market Basket” say, “we will continue this boycott and rallies until the Board of Directors comes to the only rightful decision, ATD as CEO with full authority!”