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. Goodfood announced its move to shield itself from creditors by filing an application with the Superior Court of Quebec.
The initial court order grants the company a 30-day protection period from creditors, preventing them from initiating new lawsuits to collect outstanding debts. Typically, this protection period can be extended during subsequent hearings as the company progresses with its restructuring efforts.
Goodfood’s objective is to restructure its operations, and the creditor protection allows the company the necessary time and flexibility to do so. The company plans to seek court approval to seek potential buyers or investors for its business and assets.
Court filings reveal that Goodfood faced financial challenges, prompting the need for court intervention and potential sale due to substantial debts owed to creditors. Despite discontinuing its on-demand grocery division established in November 2021, the company retained 233 employees. Goodfood anticipates no immediate job losses related to the court proceedings but may implement targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue fulfilling customer orders. The company, founded by Jonathan Ferrari and Neil Cuggy in 2014, experienced leadership changes with Ferrari stepping down 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.
