A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure with a new owner or investor support. Goodfood took the initial step by filing an application with the Superior Court of Quebec, which granted an order providing 30 days of protection from creditors. This protection allows the company to shield itself from new lawsuits while it works on its restructuring plans.
The company intends to utilize this period to restructure and eventually seek potential buyers or investors for the business and its assets. According to court documents, Goodfood faced financial challenges, leading to the need for creditor protection, with outstanding debts owed to various creditors.
Despite its primary business of selling meal kit ingredients, Goodfood ventured into an on-demand grocery division in November 2021, aiming for quick deliveries. However, by October 2023, the initiative was abandoned due to profitability issues. Goodfood retained 233 employees even after discontinuing this operation, 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. The company’s founders, Jonathan Ferrari and Neil Cuggy, started Goodfood in 2014. Ferrari stepped down as CEO in August 2025, followed by Cuggy’s departure as president and COO in January 2026. Recently, Selim A. Bassoul resigned as CEO and was succeeded by Najib Maalouf, the former president and COO.