BOSTON (CBS) – The family that runs one of the most successful supermarket chains in the country may vote to oust one of their own.
The Demoulas family, who owns Market Basket, has been embroiled in battle for years, but a vote to oust CEO Arthur T. Demoulas may saddle the company with more than $1 billion in debt that could change the company forever.
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Ted Clark, head of the Center for Family Business at Northeastern University says, “It’s not unusual in many respects, because there’s money and family involved. One of the things that’s unusual is the fact that it affects so many people in New England. They’re a very large, very successful operation.”
WBZ NewsRadio 1030’s Anthony Silva reports