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Demoulas Board Reviews ‘Issues’ at Planned Stores

TEWKSBURY, Mass. — The board of directors of Demoulas Super Markets this week said it has given management approval to proceed with a new Market Basket store site in Attleboro, Mass., but said “issues” remain with other planned sites in Revere, Waltham and Plymouth, Mass.


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The latter three sites are owned by parties that are related Arthur T. Demoulas, the company president. Such “related party” deals have been an issue of contention between Arthur T. Demoulas and the Demoulas board.

“We have told management to proceed with the opening of Attleboro. Other projects have issues that still need to be addressed and resolved by management,” the Demoulas board said in a memo released following its monthly meeting Monday.

“In the coming year, consistent with our duties, we will provide counsel and oversight on the implementation of a growth strategy as it is presented to us by Arthur T. Demoulas and the management team. It is our hope that, together, we can move forward in a collegial manner that will prove to be beneficial to all of Market Basket’s constituents,” the board added.

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