A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure with a new owner or investor support. The Montreal-based meal kit business recently initiated the process by submitting an application to the Superior Court of Quebec.
Following the court’s decision, which typically grants a 30-day protection period from creditors, Goodfood can shield itself from new lawsuits aimed at debt collection during this time. Extensions to the creditor protection period are common as companies progress with their restructuring efforts.
Goodfood aims to reorganize during this period, utilizing the flexibility and time provided by creditor protection. The company plans to seek court approval to explore potential buyers or investors for its business and assets.
Documents presented to the court reveal that Goodfood faced financial challenges, leading to the need for court intervention and potential sale discussions due to outstanding debts. Despite an unsuccessful attempt to launch an on-demand grocery division in November 2021, which was later discontinued in October 2023, Goodfood retained its workforce of 233 employees.
While the company anticipates no immediate job losses resulting from the court proceedings, targeted workforce adjustments may be necessary. Throughout this process, customers can continue placing orders, which Goodfood will fulfill.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw leadership changes with Ferrari stepping down as CEO in August 2025 and Cuggy departing as president and COO in January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, who assumed the roles of both chief operating officer and president.