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 assistance from investors. Goodfood announced its move to shield itself from creditors by filing an application with the Superior Court of Quebec.
The court granted an initial order providing the company with 30 days of protection from creditor actions, preventing them from initiating new lawsuits to collect debts during this period. Typically, the creditor protection period can be extended through subsequent hearings as companies progress with their restructuring efforts.
Goodfood’s objective is to restructure its operations, and the company views the creditor protection as a means to gain time and flexibility in achieving this goal. The company plans to seek court approval to engage potential buyers or investors for its business and assets.
According to court documents, Goodfood faced financial challenges due to outstanding debts, prompting the need for court intervention and consideration of a sale. While renowned for its meal kit offerings, the company ventured into on-demand grocery services in November 2021, aiming for quick deliveries within 30 minutes. However, by October 2023, the venture proved unprofitable and had to be discontinued.
Despite discontinuing the grocery division, Goodfood retained 233 employees. The company assures that there are no expected job losses tied to the court proceedings but mentions the possibility of targeted workforce reductions.
Throughout the court proceedings, customers can continue placing orders, and Goodfood will fulfill them as usual. Goodfood’s founders, Jonathan Ferrari and Neil Cuggy, established the company in 2014. Ferrari resigned as CEO on August 25, 2025, while Cuggy, then President and COO, departed by January 16, 2026.
Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, who previously served as the COO and President of the company.