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May 05, 2015 3:15 AM ET

Food and Staples Retailing

Company Overview of Market Basket, Inc.

Company Overview

Market Basket, Inc. operates a chain of grocery stores in Massachusetts, New Hampshire, and Maine. It serves customers in New England. The company was founded in 1916 and is based in Tewksbury, Massachusetts.

875 East Street

Tewksbury, MA 01876

United States

Founded in 1916

Phone:

978-851-8000

Fax:

978-640-8390

Key Executives for Market Basket, Inc.

Vice President of Finance and Treasurer
Vice President and Controller
Executive Vice President of Marketing
Compensation as of Fiscal Year 2014.

Market Basket, Inc. Key Developments

Kroger Rumored To Be A Potential Bidder For Market Basket

The Kroger Co. (NYSE:KR) is rumored to be a potential bidder for DeMoulas Super Markets, Inc.

Market Basket Employee Files Labor Complaint against Market Basket for Threatening to Fire Workers

A Market Basket employee has filed a labor complaint against the company, Market Basket for threatening to fire workers who have protested to bring ousted CEO Arthur T. Demoulas back. Karen Bostwick, a Lowell resident, alleges that Market Basket has violated workers' rights laws to picket and strike, and has created a hostile work environment with a lack of safety. The office worker called it ironic that office workers and warehouse workers have been jeered by protesters, while full-time store workers who remain on the job haven't received the same treatment. The boycott has lasted more than five weeks, draining the chain's 71 stores of about 90% of revenue. Part-time store workers have been almost entirely out of work in recent weeks.

Demoulas Super Markets to Put Thousands of Part-Timers Out of Work

Demoulas Super Markets is putting thousands of part-timers out of work by early next week as the company's management reacts to a sharp slowdown in traffic at its 71 Market Basket stores. Demoulas calculates hours for part-timers based on how much revenue is being produced at each store, and that figure has dropped precipitously amid the chaos. In many cases, shoppers are boycotting the stores at the workers' requests, to show solidarity. It was unclear how many employees would be affected by these cuts, although the chain's total employment was most recently estimated at 25,000, and more than half of the workers are part-timers.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 24, 2014
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