Market Basket Promises No Closings, Firings as Negotiations Continue

Market Basket, the embattled grocery chain dealing with customer boycotts and employee walkouts, continues to negotiate a sale and said at a board meeting it will not close any stores or fire any employees as part of a commitment to reaching a resolution this week, The Boston Globe reports.

According to the report, the renewed commitment to finding a deal came after negotiations on Sunday that were brokered by New Hampshire Governor Maggie Hassan and Massachusetts Governor Deval Patrick.

Advertisement - Continue Reading Below

With Market Basket’s finances growing increasingly dire, family members fighting over the grocery chain have promised to make an all-out effort to reach a deal to rescue the company by the end of the week, according to people briefed on the discussions.

...

Executives of the company have agreed to hold off on firing employees or closing stores to allow some time for the discussions to play out, according to the people who were briefed. The sides are negotiating a sale of Market Basket, as well as efforts to stabilize the embattled company’s operations and finances.

You can find the full Boston Globe report, including how Hannaford Bros. Co. factors into the renewed effort, here.

Click here for more of Boston.com’s Market Basket coverage.