Woo hoo!!! Artie T and the workers have triumphed!!

[edbermac]

BOSTON —An agreement has been reached to give Arthur T. Demoulas majority ownership in Market Basket and end protests and boycotts that crippled the chain for most of the summer.

After two months, an agreement was reached late Wednesday night to sell the entire Market Basket chain to Arthur T. Demoulas.

The details of the agreement were not immediately available.

The 71-store Demoulas family-run New England chain has lost tens of millions of dollars since warehouse workers walked off their jobs in protest of the firing of Arthur T. Demoulas as CEO.

After Arthur T. Demoulas' June ouster, employees staged rallies and demonstrations supporting him. Many employees vowed they would not work for anyone other than "Artie T.," and urged customers to shop elsewhere unless he was reinstated.

The six-week protest resulted in stores with few customers, little fresh food and empty shelves.

Arthur T. Demoulas offered to buy out his cousin, Arthur S. Demoulas, and other family members early in the standoff, but it took weeks for the two sides to reach an agreement.


http://www.wcvb.com/news/source-deal-reached-to-sell-market-basket-to-arthur-t-demoulas/27764382

[MADem]

1. Has the board voted yet? That's the final thing that needs to happen...

I understand the deal is signed but the board has to approve it.

[edbermac]

2. Shareholders have agreed, story is still breaking

http://www.boston.com/business/news/2014/08/27/demoulas-sides-reach-deal/YHVqrKp65XS3DBzJd2PulI/story.html?

[BlueCaliDem]

3. Yes! Today, the Board of Directors has voted to sell Artie T the entire chain.

Had to look it up in the image banner timeline here: http://www.wcvb.com/news/timeline-of-events-in-market-basket-standoff/27317468#!bLt8Ly . Forward to image 61.

[canoeist52]

4. Statement from "We Are Market Basket" (where it all began).

"We Are Market Basket and We Are Back!

Tonight, the resolution we all have been fighting for for so long has come to be. The Board of Directors has approved the sale of the company to the family of Arthur T. Demoulas and we are back in the building starting tomorrow! The entire management team including those fired and those who resigned will be back as well to start the process of rebuilding. Most importantly, ATD is back!!

Details are emerging as we write this but we wanted to let the world know that we have emerged from this crisis victorious! The STAKEHOLDERS have helped to Save Market Basket and in doing so, we have made history. Associates, vendors and most importantly, CUSTOMERS carried the banner for a company that is so much more than simply a company, but is rather an integral piece of every community it serves.

Tonight we raise a glass to Artie T and each other as we have achieved the most improbable of upsets. Tomorrow we go to work and never, in the history of people going to work, will so many people be so happy to punch the clock.

To our customers…words will never be able to express our appreciation of what you have accomplished. You are the lifeblood of who we are and we are eternally thankful to you. Please understand that we will be working around the clock to get every department in every store back up to speed and once we do, we will be better than ever!

WE ARE MARKET BASKET and WE ARE BACK!"

[MADem]

5. I am going shopping tomorrow then!

[edbermac]

6. LOL you might want to wait a few days

Went to Chelsea today, meat, produce and bakery sections were empty. But the rest of the store was fairly well stocked.

[MADem]

7. We're down to rice and beans--we've been living off stores

and going out to eat, with a few "fill ins" from Stop and Crap.

[sheshe2]

8. Stop and Crap...

[MADem]

9. Well...they do have some fairly nice restrooms....

...and I have availed myself a time or two!

[Cha]

10. This is Amazing News.. and I've read the comments below so I know the Board

has approved it, too! Wow!

A Striking Miracle! Congratulations to all those who can now shop for Food at the Market Basket!

[Blue_Adept]

11. I'm still shocked

So many conflicting messages out of it all. But this is the outcome we all wanted, albeit earlier in the event. Definitely heading there later today to pick up a few things and show support as they get their restocking going.