A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure with a new owner or investor support. Goodfood initiated the process by filing an application with the Superior Court of Quebec to shield itself from creditors. The court granted an initial order providing 30 days of protection, during which creditors cannot pursue new legal actions to collect debts.
Typically, the creditor protection period is extended at subsequent hearings as companies progress with their restructuring. Goodfood aims to restructure its operations and views the creditor protection as a means to secure time and flexibility for this purpose. The company plans to seek court approval to solicit potential buyers or investors for its business and assets.
Court documents reveal that financial difficulties led Goodfood to seek protection and consider a sale due to outstanding debts. While recognized for its meal kit offerings, the company attempted to launch an on-demand grocery service in November 2021, aiming for deliveries within 30 minutes. However, by October 2023, the venture was discontinued as it proved unprofitable.
Despite ceasing the grocery service, Goodfood retained 233 employees, assuring no immediate job losses due to the court proceedings but hinting at potential targeted workforce reductions. Throughout the legal process, customers can continue placing orders that Goodfood will fulfill.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood witnessed leadership changes, with Ferrari stepping down as CEO in August 2025 and Cuggy, the former president and COO, departing in January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, the company’s president and COO.
