NH, Mass. governors think Market Basket Deal 'may be within reach,' spokesperson saysBy MICHAEL COUSINEAU
New Hampshire Union Leader
August 18. 2014 10:04AM
New Hampshire Gov. Maggie Hassan and Massachusetts Gov. Deval Patrick met with some Demoulas board members Sunday and believe a deal “may be within reach” to sell Market Basket and get customers and workers back into stores.
“Governor Hassan and Governor Patrick met at length on Sunday evening with interested parties in the Market Basket situation,” said Heather Nichols, Patrick’s press secretary. “The parties have made real progress on the terms of the sale and operating control of the company, and the governors are encouraged that a resolution may be within reach.”
The Demoulas board reportedly is meeting Monday.
As many as 8,000 part-time Market Basket workers in New Hampshire recently lost all scheduled hours after management ordered store directors to better balance payroll with drastically reduced store sales.
Many New Hampshire store directors report their business is down 90 to 98 percent.
The company’s co-CEOs have ordered employees to return to their jobs or risk being replaced.
Workers want the return of ousted CEO Arthur T. Demoulas, whose side of the family is trying to buy the remaining 50.5 percent of the company it doesn’t own.