Next Market Basket deadline set for Friday

TEWKSBURY, Mass. (MyFoxBoston.com) -- The Market Basket saga fueled by the ousting of CEO Arthur T. Demoulas is facing another deadline Friday.

The company heads wanted the controversy ended by Friday, but whether they are ready to make a deal remains uncertain as of Thursday evening.

The saga has been ongoing for about 5 weeks and the company has lost millions in the process. According to sources close to the negotiations, Arthur T. will make his final offer to buy back the majority shares sometime Friday. The parent company of Hannaford grocery stores is pushing hard to buy at least part of the company as well. The board of directors is expected to meet Saturday to discuss the final bids.

If Hannaford wins the bid, it's understood that it could take a long time to finalize. Marketing analysts are concerned because the two chains overlap in the Commonwealth and the Granite State, and that could require the Federal Trade Commission to conduct a review which could take up to a year. Marketing experts say if that happens, one could risk their entire customer support base including vendors, but you never know how much is being offering behind closed doors.

The governors of Mass. and N.H.  both met with the board last Sunday and encouraged them to resolve the matter within a week.

Meanwhile between the employees protesting and customer support, Market Basket remains at a stand still, losing money by the day.

Cox Media Group