Shoppers in New England can once again get groceries and workers can return to their jobs, as the supermarket saga that has been unfolding in three states for over a month has now come to a happy end. Inelegantly ousted but apparently beloved CEO Arthur T. Demoulas has reached an agreement with the board of the company to buy it back for $1.5 billion and regain control.
A weird situation in New England is getting weirder. Regional grocery store chain Market Basket, which operates 71 stores in Massachusetts, New Hampshire, and Maine, is finding itself at the center of a massive controversy, with employees, executives, customers, and even local lawmakers all getting involved. The core issue? The board ousted good-guy CEO Arthur Demoulas to replace him with perceived money-grubber Arthur Demoulas, and the resulting furor has led to strikes, boycotts, and empty shelves.