A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company aims to restructure under new ownership or with investor support. The company recently initiated the process by filing an application with the Superior Court of Quebec.
Upon receiving an initial court order, Goodfood now has a 30-day shield from creditors, preventing them from pursuing legal actions to recover outstanding debts during this period. Typically, the creditor protection duration can be extended as the company progresses with its restructuring efforts.
Goodfood’s primary objective is to revamp its operations, and the creditor protection status will provide the necessary time and flexibility for this purpose. The company plans to seek court approval to explore potential buyers or investors interested in acquiring its business and assets.
According to court filings, Goodfood encountered financial challenges, leading to the decision to seek court protection and evaluate a potential sale due to significant debts owed to creditors. Despite discontinuing a failed on-demand grocery service launched in November 2021, the company retained 233 employees. Goodfood anticipates no immediate job losses resulting from the court proceedings but acknowledges the possibility of targeted workforce reductions.
Throughout the legal proceedings, customers can continue placing orders, which Goodfood will continue to fulfill. The company’s founders, Jonathan Ferrari and Neil Cuggy, established Goodfood in 2014. Ferrari stepped down as CEO on August 25, 2025, while Cuggy, who served as president and COO, departed on January 16, 2026, as per court records.
Recently, Selim A. Bassoul stepped down as CEO, with Najib Maalouf assuming the role of president and COO.