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Former Market Basket CEO Offers to Buy Chain [PHOTOS]

Hundreds of Market Basket employees continue to rally to protest the firing of former supermarket chain CEO Arthur T. Demoulas. Credit: Arthur T. Demoulas Support Facebook page.

Arthur T. Demoulas, the former CEO of the Market Basket supermarket chain, has offered to buy 50.5 percent of the company from his family after hundreds of Market Basket workers have staged rallies to protest his firing, according to WMTW.

The Portland television news station reported Thursday that Demoulas believes he is making a fair offer that, if accepted by his cousin Arthur S. Demoulas and the faction of their family that owns the majority interest, who give him control of the chain’s 71 stores, several of which are located in Maine and New Hampshire.

Arthur T. Demoulas released his offer in a statement posted on the Arthur T. Demoulas Support Facebook page. The rallies and protests have left many Market Basket store shelves bare because several food products and produce are not being delivered from the company’s warehouses.

What do you think about the Market Basket protests? Should Arthur T. Demoulas own a majority stake in the chain? Share your comments here on our web site and on our Facebook and Twitter pages with the hashtag #MarketBasketRallies.

 

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