A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure with new ownership or investor support. The company initiated the process by filing an application with the Superior Court of Quebec to shield itself from creditors.
Upon the court’s issuance of an initial order, Goodfood now has a 30-day protection period during which creditors are prohibited from initiating new legal actions to collect debts. Typically, this period is extended through subsequent court hearings as the company progresses with its restructuring efforts.
Goodfood’s objective is to restructure its operations, and the creditor protection status provides the necessary time and flexibility to achieve this goal. The company intends to seek court approval to explore potential buyers or investors for its business and assets.
Court documents reveal that financial challenges led Goodfood to seek relief and consider a sale due to significant debts owed to creditors. Despite a failed attempt to launch an on-demand grocery division in November 2021, which was discontinued in October 2023 citing profitability issues, Goodfood retained its workforce of 233 employees.
While the company does not anticipate job losses related to the court proceedings, targeted workforce reductions may occur. Throughout the legal process, customers can continue to place orders that will be fulfilled by Goodfood.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw leadership changes as Ferrari stepped down as CEO in August 2025, and Cuggy, the former president and COO, departed by January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, the current COO and president.
