A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company looks to restructure with a new owner or investor support. The Montreal-based meal kit company recently initiated the process by filing an application with the Superior Court of Quebec, which granted an initial order providing a 30-day protection period from creditors. This safeguard prevents creditors from pursuing legal actions to recover debts during this time.
The intention behind seeking creditor protection is to give Goodfood the necessary time and flexibility to undergo restructuring. The company plans to seek approval from the court to explore potential buyers or investors interested in acquiring its business and assets. Court documents reveal that Goodfood faced financial challenges, leading to the consideration of a sale and seeking court assistance.
While Goodfood is well-known for its meal kit services, it attempted to launch an on-demand grocery division in November 2021. However, by October 2023, this venture had to be discontinued due to profitability issues. Despite this setback, Goodfood retained 233 employees and anticipates no immediate job losses due to the court proceedings, although targeted workforce reductions may occur.
During the ongoing court process, customers can continue to place orders as Goodfood remains operational. The company was founded in 2014 by Jonathan Ferrari and Neil Cuggy. Ferrari resigned as CEO in August 2025, followed by Cuggy, who was the president and COO, leaving in January 2026, according to court records. Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, who assumed the roles of COO and president.
Goodfood’s decision to seek creditor protection reflects its commitment to navigate financial challenges and explore strategic opportunities for sustainable growth.