BOSTON (AP) — Three members of Market Basket’s board of directors say they have proposed a plan to get the beleaguered supermarket chain back to normal operations as its fired CEO Arthur T. Demoulas pursues buying controlling interest.
In a statement Friday afternoon, the board members said their proposal would let Demoulas and his former management team assist in a return to normal operations, but not take control.
A spokeswoman for Arthur T. Demoulas called the offer an attempt to have him stabilize the company while they consider selling it to another bidder. Demoulas had offered Sunday to return as CEO while sales talks continue.
Demoulas was fired in June by the board, which has been controlled by his rival cousin, Arthur S. Demoulas.