A tumultuous year for Market Basket is coming to an end with Arthur T. Demoulas formally in charge of the company.
Demoulas and his family announced Friday that they have completed the purchase of the 50.5 percent of the company that was controlled by his cousin. Demoulas offered $1.6 billion in the buyout proposal in August.
Other details of the deal weren't disclosed.
The nearly century-old supermarket chain based in Tewksbury, Massachusetts, has 73 stores in Massachusetts, New Hampshire and Maine.
The New Hampshire Retail Association expects us all to do more shopping this holiday season. The group projects a 4.3 percent jump in sales, slightly higher than national forecasts.
In anticipation, New Hampshire retailers, warehouses and delivery services are recruiting temporary workers. And while that bodes well for the job market, not all employers and employees find what they’re looking for.
Whole Foods opened its first New Hampshire store in Nashua last month. It plans to add stores in Bedford and Portsmouth by 2016.
It’s an open question whether the Texas-based chain known for high-end natural and organic products can compete with farmers markets on the one hand and with the reopened Market Basket, or the grocers that saw their business grow as the Demoulas family feuded.
It's being billed as the first-ever public-private sponsorship of a race car. Today Gov. Paul LePage announced that the state of Maine will use Fort Kent NASCAR driver Austin Theriault's car as a billboard for the slogan, "Maine is open for business." The sponsorship cost the state $50,000. Some are celebrating the move, while others question whether it will drive business to the state.
The slow death of the textile industry in the U.S. was underscored last December by the closure of the last operating mill in Connecticut, the historic Warren Mills in Stafford Springs. That same mill is celebrating its re-opening under new owners.
How does the American Woolen Company expect to buck the trend?
In early 2013, investment banker Jacob Harrison Long bought the American Woolen Company. Once one of the nation’s most recognized textile companies, when Long arrived, it was little more than a trademark.
Originally published on Mon September 15, 2014 9:09 am
As you head to work this morning, your workspace sits empty, awaiting your return. Maybe it’s a cubicle, a windowless box, or a corner office with a view of Boston harbor. Whatever it is, that may change soon, in order to not only accommodate but attract a younger workforce.
The chief of the Market Basket supermarket chain says the company's 71 stores have already accomplished a remarkable turnaround thanks to employees who worked day and night to restock shelves left empty by a worker revolt in his support.
Arthur T. Demoulas is back in control after offering more than $1.5 billion to buy shares of the private company from rival relatives who had fired him.
His ouster led to worker walkouts and customer boycotts that brought the chain to a standstill.
Market Basket is looking to new customers as well as old as it begins its recovery from a six-week employee walkout and customer boycott.
Store managers of the New England supermarket chain say they are seeing a lot of new faces in the food aisles since the board of directors agreed to sell the company to its ousted leader, Arthur T. Demoulas.
Employees have been working around the clock to restock store shelves. Managers say they expect to be nearly fully stocked this weekend.
Originally published on Fri August 29, 2014 9:46 am
How does a deal like the $1.5 billion buyout of Market Basket work? What did it take Arthur T. Demoulas to gain total control of the 71-store supermarket chain from warring relatives? It was complicated — from start to finish.
Originally published on Tue August 26, 2014 10:05 am
Market Basket employee Karen Bostwick, of Tewksbury, has filed a charge with the National Labor Relations Board, contending current Market Basket management is “violating the right to picket and strike.”