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 support. Goodfood announced its move to shield itself from creditors by filing an application with the Superior Court of Quebec.
The court granted an initial order, providing a 30-day protection period from creditors, preventing them from initiating new legal actions to recover debts during this period. This protection period can be extended as the company progresses with its restructuring or winding down process.
Goodfood’s objective is to restructure its operations, and the creditor protection will allow the company the necessary time and flexibility to achieve this goal. The company plans to seek court approval to solicit potential buyers or investors for its business and assets.
Court documents reveal that Goodfood faced financial challenges, leading to the need for creditor protection and potential sale due to significant debts owed. Despite discontinuing an on-demand grocery venture in November 2021 after it proved unprofitable by October 2023, the company retained 233 employees.
While no job losses are anticipated directly related to the court proceedings, Goodfood may implement targeted workforce reductions. Throughout the court process, customers will still be able to place orders, which the company will continue to fulfill.
Goodfood, established in 2014 by Jonathan Ferrari and Neil Cuggy, saw leadership changes with Ferrari stepping down as CEO in August 2025 and Cuggy, the former president and COO, departing in January 2026. Recently, CEO Selim A. Bassoul resigned, and Najib Maalouf assumed the position of chief operating officer and president.
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