A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure with new ownership or investor support. The Montreal-based meal kit provider revealed its move to shield itself from creditors by initiating legal proceedings with the Superior Court of Quebec.
The court’s initial ruling grants Goodfood a 30-day protection period from creditors, preventing them from pursuing legal actions to collect outstanding debts during this time. Typically, this protection can be extended as companies progress in their restructuring efforts.
Goodfood aims to utilize this creditor protection to reorganize its operations effectively. The company plans to seek approval from the court to explore potential buyers or investors for its business and assets.
Facing significant debts, court documents show that Goodfood attempted to launch an on-demand grocery service in November 2021 but ultimately discontinued the venture in October 2023 due to profitability challenges. Despite this, the company retained its workforce of 233 employees, assuring no immediate job losses but hinting at possible targeted workforce reductions.
Throughout the court proceedings, Goodfood assures customers that they can continue placing orders as the company fulfills its commitments. Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw leadership changes with Ferrari stepping down as CEO in August 2025 and Cuggy leaving his role as president and COO by January 2026. Recently, Selim A. Bassoul resigned as CEO, succeeded by Najib Maalouf, who assumed the position of president and COO.
