As a beloved grocery CEO is ousted, consumers fear for Market Basket’s downfall

Market Basket, a beloved, family-owned New England supermarket chain, has long been the face of Succession-level family drama, but it reached a peak this week that’s left loyal shoppers concerned about the grocer’s fate.

CEO Arthur T. Demoulas was unanimously ousted by the chain’s board after being put on paid leave in May. The board—controlled by his three sisters, who own a combined 60% stake compared to his 28%—called him a “dictator” in court filings this week, accusing him of planning a work stoppage and “unilaterally” appointing his children to succeed him. In response to the firing, Demoulas said in a statement that the “board’s actions are a farcical cover up for a coup,” calling them efforts to “falsely tarnish” his reputation.

The 70-year-old Demoulas, known by many as “Artie T,” is the grandson of founder Athanasios “Arthur” Demoulas, who began the chain in Massachusetts in 1917. He’s led the grocer since 2008, and has faced familial opposition before. In 2014, Market Basket’s board—then controlled by his cousin Arthur S. Demoulas—also ousted him, leading to turmoil as employees protested in support, leaving many Market Basket shelves bare as they waved signs like “Arthur T. is our CEO” outside stores. The efforts worked, and Demoulas and his sisters bought the chain for $1.6 billion.

While operating just under 100 stores across Massachusetts, New Hampshire, Maine, and Rhode Island, Market Basket was named No. 2 this year in Dunnhumby’s annual Retailer Preference Index ranking top US grocers. Now, customers are concerned about the fate of the no-frills retailer, known for low prices and an aversion to newer technologies like self-checkout, under new leadership.

Some shoppers interviewed by the Boston Globe feared Demoulas’s firing would spur higher prices and employee turnover. Many suggested they’d join a boycott similar to 2014. Those sentiments were echoed online, with many in r/boston and r/marketbasket also calling for boycotts over their concerns of changes.

“I can't imagine the board has been fighting this hard to oust Demoulas for so long to keep the stores the way they are,” one user wrote.

Many expressed loyalty to Demoulas. “Arthur T is what made Market Basket, Market Basket,” one said. Another wrote they’re “not giving MB my money without Arthur.” A few said they’d head to Stop & Shop, which recently dropped prices in Massachusetts, instead.

And one simply referred to the chain as “Market Casket.”