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In 1991, George Demoulas's family sued Mike Demoulas, his son Arthur T. Demoulas, and DeMoulas Super Markets, Inc. chief financial officer D. Harold Sullivan, alleging that the three violated the Employee Retirement Income Security Act of 1974 by using their positions as the trustees of the company's employee profit-sharing plan to make ...
He also began opening stores under different names, including Market Basket. By 1998, there were 57 Demoulas and Market Basket stores. [2] He remained President of DeMoulas Super Markets, Inc. until 1999, when he resigned as result of a court order. [14] Outside of Market Basket, Demoulas was known for his philanthropy.
The deal with Market Basket paid Retail Development and Management Inc. 7.5% of the total development costs compared to the traditional industry percentage at the time of 2-3%. Secondly, Arthur T. recommended Market Basket purchase a property in Bourne, Massachusetts, for $20.9 million. The Bourne property was owned by a company in which Arthur ...
The Penn Traffic Company was a food service company founded in 1854 in Johnstown, Pennsylvania.. The company eventually evolved into a general merchandise department store. By the early 1960s, it also returned to the food business through the acquisition of Super Value Corporation, which operated the 10-store Riverside supermarket chai
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Stop & Shop/Giant-Landover was a combined supermarket chain owned by the American subsidiary of the Dutch retailer Ahold.The company took its form in 2004, after Ahold decided to combine the operations of its New England–based Stop & Shop chain with its Landover, Maryland-based Giant Food chain to create the largest supermarket company in the Mid-Atlantic States.
Stores were 10,000 to 15,000 square feet (930 to 1,390 m 2) and in downtown and inner city areas in the Boston and Springfield metro areas. The chain had grown to 86 supermarkets by 1946, when the name was changed to Stop & Shop, Inc. [ 6 ]
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