A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to undergo restructuring with a new owner or investor support. Goodfood initiated the process by filing an application with the Superior Court of Quebec, which resulted in the issuance of an initial order providing a 30-day shield from creditors, preventing new lawsuits to collect debts.
The company plans to utilize the creditor protection period to restructure effectively. Future court applications will seek approval to seek potential buyers or investors for the business and its assets. Court documents reveal that Goodfood faced financial challenges, leading to the decision to consider a sale due to outstanding debts.
While Goodfood is renowned for its meal kit offerings, recent court records highlight a failed attempt to launch an on-demand grocery division in November 2021, which was abandoned by October 2023 due to profitability issues. Despite discontinuing this venture, the company retained 233 employees, assuring no immediate job losses related to the court proceedings but hinting at potential targeted workforce adjustments.
Throughout the court process, customers can continue placing orders that Goodfood will fulfill. The company’s founders, Jonathan Ferrari and Neil Cuggy, established Goodfood in 2014, with Ferrari stepping down as CEO in August 2025 and Cuggy departing as president and COO in January 2026, according to court documents. Recently, Selim A. Bassoul resigned as CEO and was succeeded by Najib Maalouf, the current COO and president.