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 support from investors. The company filed an application with the Superior Court of Quebec to shield itself from creditors, receiving an initial order granting 30 days of protection during which creditors cannot initiate new lawsuits to collect debts. This protection period can be extended as the company progresses with its restructuring plans.
Goodfood intends to utilize the creditor protection to restructure its operations and seek potential buyers or investors for the business and its assets. Court documents reveal that the company faced financial challenges, leading to the consideration of a sale due to significant debts owed to creditors.
Although known for its meal kit services, Goodfood ventured into an on-demand grocery division in November 2021 with plans to provide quick deliveries within 30 minutes. However, court records indicate that by October 2023, the venture was discontinued as it failed to achieve profitability. Despite shutting down this division, Goodfood retained 233 employees, assuring no job losses directly related to the court proceedings but hinting at potential targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue to accept and fulfill customer orders. The company’s founders, Jonathan Ferrari and Neil Cuggy, started the business in 2014. Ferrari stepped down as CEO in August 2025, while Cuggy, then the president and COO, departed in January 2026 according to court documents. Following recent changes, Selim A. Bassoul resigned as CEO and Najib Maalouf assumed the role of chief operating officer and president earlier this week.