Business & Tech
Grocery Store Pays Out During Possible Power Struggle
A local supermarket chain has made a big monetary decision not long after uncertainty about its future began.
The Market Basket board has voted to distribute $250 million to the company's nine shareholders, according to the Boston Globe.
The Globe said the board was scheduled to meet Thursday at the Harvard Club in Boston but had to move its meeting to another location after Market Basket employees gathered outside.
The grocery store chain, which has a location in Seabrook, has been embroiled in a public battle over the future of the company. Employees rallied around CEO Arthur T. DeMoulas last month when it appeared he might be ousted by the board. That effort appeared to save his job, at least for now.
[Read the full story here.]
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