A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure with new ownership or investor support. The Montreal-based meal kit company took the necessary steps by filing an application with the Superior Court of Quebec.
The court granted an initial order providing Goodfood with 30 days of protection from creditors, preventing them from pursuing legal actions to recover debts during this period. Typically, these protection periods are extended as companies progress with their restructuring efforts.
Goodfood’s intention is to restructure, and the creditor protection will offer the necessary time and flexibility to do so. The company plans to seek court approval to seek potential buyers or investors for the business and its assets.
Court documents reveal that Goodfood faced financial challenges, leading to the need for creditor protection and potential sale due to outstanding debts. Despite attempting to launch an on-demand grocery service in November 2021, the venture proved unprofitable and was discontinued by October 2023.
The company retained 233 employees after discontinuing the failed operations, stating that no job losses are expected due to the court proceedings, although targeted workforce reductions may occur. Throughout the court process, Goodfood will continue fulfilling customer orders without interruption.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw changes in leadership with Ferrari resigning as CEO in August 2025, and Cuggy departing as president and COO by January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, the former COO and president.