A Quebec court has approved a request for creditor protection from Goodfood Market Corp. as the Montreal-based meal kit company seeks to restructure with new ownership or investor support. Goodfood recently initiated the process by filing an application with the Superior Court of Quebec to shield itself from creditors.
Upon receiving an initial court order, typically providing a 30-day protection period from creditors, Goodfood aims to utilize this time to restructure effectively. This protection period can be extended during subsequent court hearings. The company intends to seek potential buyers or investors for its business and assets once it gains court approval for solicitation.
Court documents reveal that Goodfood accumulated significant debts, leading to the need for court intervention and potential sale considerations. Despite previously venturing into an on-demand grocery division in November 2021 with plans for rapid delivery, the venture proved unprofitable by October 2023 and was subsequently abandoned.
Despite discontinuing the unsuccessful operations, Goodfood retains 233 employees and assures that the ongoing court proceedings will not result in job losses, although targeted workforce reductions may occur. Throughout this process, customers can continue to place orders, which Goodfood will fulfill without disruption.
Goodfood, established in 2014 by Jonathan Ferrari and Neil Cuggy, saw leadership changes with Ferrari resigning as CEO in August 2025 and Cuggy departing as president and COO by January 2026. Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, who assumed the roles of COO and president.