A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure under new ownership or with investor support. The company filed an application with the Superior Court of Quebec to shield itself from creditors, receiving an initial order granting a 30-day protection period during which creditors cannot initiate new lawsuits to collect debts. This protection period can be extended as the company progresses in its restructuring efforts.
Goodfood plans to restructure under the creditor protection, allowing it the necessary time and flexibility. The company intends to seek court approval to seek potential buyers or investors for its business and assets. Court documents reveal that Goodfood faced financial challenges, resulting in seeking court protection and considering a sale due to outstanding debts to creditors.
While Goodfood is renowned for its meal kit offerings, court records show that it attempted to launch an on-demand grocery division in November 2021, aiming for quick delivery within 30 minutes. However, the venture proved unprofitable by October 2023 and had to be abandoned. Despite this setback, Goodfood retained 233 employees, assuring no immediate job losses due to the court proceedings while hinting at potential targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue to fulfill customer orders. The company’s founders, Jonathan Ferrari and Neil Cuggy, started the business in 2014. Ferrari resigned as CEO on August 25, 2025, while Cuggy, who served as president and COO, departed by January 16, 2026. Recently, Selim A. Bassoul stepped down as CEO and was succeeded by Najib Maalouf, the former COO and president.