Saying “there is no reason not to meet in the middle,” the three independent directors of directors of Demoulas Super Markets said Friday that they have made an offer to ousted president Arthur T. Demoulas and his staff to return to work at the beleaguered chain while Demoulas continues his pursuit of acquiring the company. Arthur T. however was not buying.
Fairway Group Holdings said Thursday that same-store sales declined by 1.7% in the fiscal first quarter due in part to sales cannibalization from new Fairway stores and the impact of a recent competitive opening.
Hannaford Bros. Supermarkets on Thursday declined comment on a Boston Globe report indicating it had offered to buy all or part of the troubled Demoulas Market Basket chain, while debate over the fate of workers flared again as protests and a consumer boycott approached their third week.
The board of directors of Demoulas Super Markets on Friday confirmed it was in receipt of an offer to buy the company from deposed president Arthur T. Demoulas but failed to act to reinstate him in an executive position, calling for “normal business operations to resume immediately.”
Unraveling what happened in the aftermath of George’s death would become one of the longest, most expensive and contentious series of lawsuits in Massachusetts history —and its aftereffects still resonate at the company.