A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company aims to restructure with new ownership or investor support. Goodfood initiated the process by filing an application with the Superior Court of Quebec to shield itself from creditors. This initial court order typically grants a 30-day protection period during which creditors are prohibited from pursuing new legal actions to collect debts.
The company plans to utilize the creditor protection period to facilitate its restructuring efforts. Goodfood intends to seek court approval to engage potential buyers or investors for the business and its assets in the future. Court documents reveal that the company faced financial challenges, prompting the need for court intervention and potential sale due to significant outstanding debts.
Despite known for its meal kit offerings, Goodfood attempted to launch an on-demand grocery division in November 2021, aiming to provide rapid grocery delivery within 30 minutes. However, by October 2023, the venture proved unprofitable and had to be discontinued. Goodfood retained its workforce of 233 employees, stating no immediate job losses are expected due to the ongoing court proceedings, although targeted workforce reductions may occur.
Throughout the legal process, Goodfood will continue fulfilling customer orders without interruption. Founded in 2014 by Jonathan Ferrari and Neil Cuggy, the company saw leadership changes, with Ferrari resigning as CEO in August 2025 and Cuggy, then president and COO, departing in January 2026. Recently, Selim A. Bassoul stepped down as CEO, replaced by Najib Maalouf, the company’s current president and COO.