Arthur T. Demoulas Offers to Return to Work, Help Stabilize Business As Soon As Sunday Night

By Liz Taurasi

Former Market Basket CEO Arthur T. Demoulas issued a statement Sunday night saying he and his side of the family are working around the clock to pursue their offer to buy the 50.5 percent of shares of the supermarket chain they do not own.

It’s been more than two weeks since employees walked off the job saying they won’t return to work unless Arthur T. is back at the helm.

As part of his proposal, Arthur T. has offered to immediately return to work in advance of the completion of the stock purchase and work to bring back his full team to stabilize and begin to restore the business, spokeswoman Justine Griffin said in a statement Sunday night on behalf of Arthur T. He has offered to return to work starting as soon as midnight tonight.

“These steps are critical at this point and are in the best interests of associates, customers, vendors and shareholders,” the statement reads. “Time is of the essence. Arthur T. is hopeful but resolution depends on the response of the other shareholders in order for an agreement to be reached.”

Arthur T. Demoulas was ousted in June when a majority of the company’s board shifted in support of Arthur T.’s cousin and rival, Arthur S. Demoulas. Arthur T. Demoulas was replaced with two co-CEOs from outside the company.

Last Wednesday, officials gave all employees an ultimatum -- return to work or be replaced. Co-CEOs Felicia Thornton and James Gooch said last week they want all associates back to work by Monday Aug. 4

Job fairs for current Market Basket employees looking to take different positions within the company or seeking a promotion are scheduled for Monday and Tuesday this week. A job fair set for Wednesday is open to the general public.