Market Basket Employees Issue Ultimatum to New Bosses

Employees have issued a letter to the new CEOs demanding that former CEO Arthur T. Demoulas be reinstated

An ultimatum has been given and workers at "Market Basket" are fighting to bring their old boss back.

Employees are demanding that the company's board reinstate ousted CEO Arthur T. Demoulas.

Market Basket's board of directors said that Arthur T. Demoulas was removed from management, but would remain a shareholder.

"The Board believes this new management team will enable Market Basket to maximize its potential and pave the way for continued success in the future," the board of directors wrote in a statement.

Some members of the board had accused Demoulas of mismanaging the company. Years of lawsuits have followed in a family feud dating back to 1971.

A letter addressed to the new CEOs gives management until noon on Thursday to meet their demand or some workers might walk off the job.

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