A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure under new ownership or with the support of investors. The Montreal-based meal kit provider initiated the process by filing an application with the Superior Court of Quebec.
Following the court’s decision, which typically grants a 30-day shield from creditors, Goodfood can operate without the threat of legal action to recover debts during this period. The protection can be extended in subsequent court hearings as the company progresses with its restructuring efforts.
Goodfood intends to utilize the creditor protection to restructure its operations effectively. The company plans to seek court approval to explore 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. Despite previous attempts to venture into on-demand grocery delivery in November 2021, the initiative was discontinued in October 2023 due to profitability issues.
Notwithstanding the operational changes, Goodfood retained its workforce of 233 employees. The company assures no job losses are expected during the court proceedings but may implement targeted workforce reductions.
Throughout the legal process, Goodfood will continue to fulfill customer orders without interruption. The company, founded by Jonathan Ferrari and Neil Cuggy in 2014, witnessed leadership changes with Ferrari stepping down as CEO in August 2025, followed by Cuggy’s departure as President and COO in January 2026. Most recently, CEO Selim A. Bassoul resigned and was succeeded by Najib Maalouf, who previously served as COO and President.
