Victory Declared as Supermarket Standoff Ends With Worker-Friendly CEO’s Return
Bringing to a close a summer-long supermarket standoff, a deal was reached late Wednesday to sell the majority stake of family-owned, New England-based Market Basket to Arthur T. Demoulas for over $1.5 billion. The resolution was seen as a victory for employees and customers who had been engaged in an epic boycott of the grocery chain with stores in Massachusetts, New Hampshire, and Maine. “Effective immediately, Arthur T. Demoulas is returning to Market Basket with day-to-day operational authority of the company,” Market Basket shareholders said in a… Read more…