A court in Quebec has approved Goodfood Market Corp.’s application for creditor protection as the company seeks to restructure under new ownership or with support from investors. The Montreal-based meal kit business recently initiated the process by submitting an application to the Superior Court of Quebec.
Upon receiving an initial order from the court, which typically grants a 30-day protection period from creditors, Goodfood is now shielded from new legal actions aimed at collecting outstanding debts. This protection period can be extended as the company progresses with its restructuring efforts.
Goodfood’s objective is to reorganize its operations, and the creditor protection status provides the necessary time and flexibility to achieve this goal. The company intends to seek court approval to explore potential buyers or investors for its business and assets.
Court documents reveal that financial challenges led Goodfood to seek relief and consider a sale due to substantial debts owed to creditors. Despite a failed attempt to launch an on-demand grocery division in November 2021, which had to be discontinued by October 2023, the company retained 233 employees.
While job losses are not anticipated as a direct result of the court proceedings, Goodfood may implement targeted workforce reductions. Throughout the legal process, customers can continue to place orders that will be fulfilled by the company.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw Ferrari step down as CEO in August 2025, followed by Cuggy’s departure as president and COO in January 2026. Recently, Selim A. Bassoul resigned as CEO and was succeeded by Najib Maalouf, who previously served as the company’s COO and president.