Marketbasket Employees Working Hard to Keep CEO

Marketbasket employees were outside Claremontmarketbasket Marketbasket and other stores throughout New England asking customers to sign a petition to save low prices, their jobs and CEO Arthur T. Demoulas from termination on July 18 when a vote may end his position. The employees have set up a facebook page “No More For Your Dollar” where generations of Marketbasket families are concerned for the store’s future.

A spokeswoman for Arthur T. Demoulas told Supermarket News on Friday that the directors attempting to remove him would look to raise prices, slow capital expenditures and take on $1.5 billion in debt to fund payouts.

Market Basket operates 71 stores and posted sales of $4 billion and net income of $217 million in 2012. To read full article click here.

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