A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure under new ownership or with support from investors. The company filed for protection with the Superior Court of Quebec, receiving an initial order that grants it 30 days of protection from creditors. This shield prevents creditors from initiating new legal actions to recover outstanding debts during this period.
The creditor protection period can be extended as needed during subsequent court hearings as companies progress with their restructuring efforts. Goodfood intends to use this protection to restructure its operations and plans to seek approval from the court to attract potential buyers or investors for the company and its assets.
Court documents reveal that Goodfood faced financial challenges, prompting the need for a sale as it owed significant amounts to creditors. Despite its core business of providing pre-measured meal kits, the company attempted to launch an on-demand grocery service in November 2021. However, this venture proved unsuccessful and had to be discontinued by October 2023 due to profitability concerns.
Although Goodfood closed its grocery operations, it retained 233 employees. The company assures that there are no anticipated job losses due to the court proceedings but mentions the possibility of targeted workforce reductions. Throughout this process, customers can continue placing orders that Goodfood will fulfill.
Goodfood, founded in 2014 by Jonathan Ferrari and Neil Cuggy, saw leadership changes in recent years. Ferrari resigned as CEO in August 2025, followed by Cuggy leaving his roles as president and COO in January 2026. Chief executive Selim A. Bassoul stepped down earlier this week, with Najib Maalouf assuming the position of president and COO.
(Source: CBC News)