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 support. The company initiated the process by filing an application with the Superior Court of Quebec, receiving an initial order providing 30 days of protection from creditors, preventing new legal actions to collect debts during this period.
Goodfood intends to utilize the creditor protection to restructure effectively, planning to seek potential buyers or investors for the business and its assets in the future. Court documents reveal the company’s financial challenges, leading to the need for court intervention, including considering a sale due to outstanding debts.
Despite a failed attempt to launch an on-demand grocery division in November 2021, which was later abandoned in October 2023, Goodfood retains its workforce of 233 employees. The company assures no immediate job losses due to the court proceedings but mentions the possibility of targeted workforce reductions.
Throughout the legal process, Goodfood will continue fulfilling customer orders, ensuring business operations carry on. The company, founded by Jonathan Ferrari and Neil Cuggy in 2014, saw management changes with Ferrari stepping down as CEO in August 2025, followed by Cuggy leaving his position by January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, who took over as the new chief operating officer and president.