A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure with new ownership or investor assistance. Goodfood initiated the process by filing an application with the Superior Court of Quebec, which granted an initial order providing 30 days of protection from creditors, preventing new lawsuits to collect debts. The company plans to leverage this protection to reorganize its operations and eventually seek potential buyers or investors.
Facing significant debts, court documents reveal that Goodfood attempted to launch an on-demand grocery service in November 2021 but had to abandon the venture by October 2023 due to profitability challenges. Despite discontinuing this initiative, the company retained its 233 employees, assuring no immediate job losses related to the restructuring process but hinting at potential targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue fulfilling customer orders. The company, founded in 2014 by Jonathan Ferrari and Neil Cuggy, saw changes in leadership, with Ferrari stepping down as CEO in August 2025 and Cuggy departing as president and COO in January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, the former COO and president.