Londis has pledged to involve shareholders in an independent review of its future being carried out by KPMG.
The move is a response to unrest about a potential £21 million windfall for four directors had the sale of the chain to Musgrave gone ahead.
The payout is not now on the table, but Londis stopped short of removing the directors involved at a heated annual meeting in London yesterday.
One non-executive director did stand down, but this failed to appease a group of 90 investors who voiced their concerns at the meeting.
"Justice is the last hiding place of the scoundrel," said one. "The problems can only be resolved by the non-executives standing down." He also accused the company of "feeding from the trough of our sweat".
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