although corporate sales reached $6 billion in fiscal 1989 (which ended january 28, 1989), the 51-unit rickel subsidiary was performing poorly, while pathmark, now with 142 stores, had slipped to third place in the new york area. many pathmark units had become, according to a forbes article, "unkempt, dirty, and outmoded." the article goes on with "continues to stock scores of the dreary no-frills offerings customers have shunned for years." merrill lynch fired chief executive kenneth peskin, replacing him with jack futterman. the only bright spot for the parent company was its 66-unit purity supreme division, consisting of massachusetts grocery and convenience store chains acquired in 1984. this division was sold in 1991 for about $265 million. (supermarkets general's department stores had been sold in 1986.)