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. Goodfood initiated the process by filing an application with the Superior Court of Quebec to shield itself from creditors.
The court has granted an initial protection order, commonly providing 30 days of safeguard against creditors, preventing them from initiating new legal actions to collect debts during this period. Typically, such protection can be extended as companies progress with their restructuring efforts.
Goodfood aims to utilize the creditor protection period to restructure effectively. The company plans to seek court approval to solicit potential buyers or investors for its business and assets. Court documents reveal that owing millions to creditors led Goodfood to seek court intervention and contemplate a sale.
Despite known for its meal kit services, Goodfood ventured into on-demand grocery delivery in November 2021, intending to provide rapid deliveries in 30 minutes. However, by October 2023, the initiative was abandoned due to profitability challenges.
Despite discontinuing the grocery division, Goodfood retained 233 employees, assuring no immediate job losses due to the court proceedings but hinting at potential targeted workforce reductions. Throughout the court process, Goodfood will continue fulfilling customer orders without disruptions.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood experienced leadership changes with Ferrari resigning as CEO in August 2025, and Cuggy, then President and COO, departing by January 2026. Recently, Selim A. Bassoul stepped down as CEO and was succeeded by Najib Maalouf, who previously served as the company’s COO and President.