A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company aims to restructure under new ownership or with investor assistance. Goodfood took the first step toward shielding itself from creditors by filing an application with the Superior Court of Quebec, which issued an initial order granting the company 30 days of protection. This period can be extended during subsequent hearings as companies delve deeper into their restructuring efforts.
The company intends to restructure during the creditor protection period, allowing it the necessary time and flexibility to do so. Goodfood plans to seek court approval to seek potential buyers or investors for the business and its assets. Court documents reveal that the company faced financial challenges due to substantial debts owed to creditors.
Initially known for its meal kit services, Goodfood attempted to launch an on-demand grocery division in November 2021. However, by October 2023, the venture was discontinued as it could not achieve profitability. Despite this setback, the company retained 233 employees, with assurances of no immediate job losses but possible targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue to fulfill customer orders. The company was founded in 2014 by Jonathan Ferrari and Neil Cuggy. Ferrari resigned as CEO on August 25, 2025, while Cuggy, who was the President and COO, departed on January 16, 2026. Recently, CEO Selim A. Bassoul stepped down and was replaced by Najib Maalouf, the former COO and President.