Still no deal in Market Basket standoff


TEWKSBURY, Mass. ( -- As protests continue across the region, word of a Market Basket board meeting and possible deal came and went, again.

Financial Advisor Barry Armstrong says the lack of a meeting is not a good sign that this standoff is close to a resolution.

“I would say the fact they are not in a meeting is a bad sign,” he said.

Towns like Gloucester that have a Market Basket are getting nervous. The city's mayor sent a letter to the board saying that the standoff is hurting city workers, local customers, employees and vendors.

“It's an urging to come to a resolution quickly because these losses are mounting day after day after day,” said Mayor Carolyn Kirk.

Kirk says on top of that, for the first time a huge mall, where Market Basket is the anchor, missed its tax payment. One the city depends on.

“One of the top 10 tax payers is the Gloucester Crossing Complex, Market Basket is the largest tenant in this complex,” she said.

However the Boston Globe is reporting that a deal is closer than ever before, and that both sides have worked to overcoming almost all major sticking points. Armstrong says one for Artie S.'s side could be a huge tax payment to Uncle Sam.

“If they sell this company their share for 1.5 billion dollars they are looking at a 400 million dollar tax liability so you might have a situation where both parties are having second thoughts,” he said.

Still a deal is what employees and customers want.

“We're all hopeful. We're waiting. We're waiting,” one worker said.

If a deal is struck, Armstrong says the stores can be re-opened in just a few days.

"Those stores could be stocked within 96 hours. That's what my insiders tell me, 96 hours to be opened and functioning at full capacity,” he said.