A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure with new ownership or investment assistance. The Montreal-based meal kit provider announced on Wednesday that it has initiated the process to shield itself from creditors by filing an application with the Superior Court of Quebec.
The court has granted an initial order, typically providing a 30-day protection period during which creditors cannot initiate new legal actions to recover outstanding debts. This protection period can be extended through subsequent hearings as the company progresses with its restructuring efforts.
Goodfood’s objective is to restructure, and the creditor protection will grant 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 in the future.
Court documents reveal that Goodfood sought relief and a potential sale due to substantial debts owed to creditors. While the company is recognized for its meal kit offerings, it ventured into an on-demand grocery service in November 2021, aiming to provide rapid delivery within 30 minutes. However, by October 2023, the venture was abandoned as it failed to attain profitability.
Despite discontinuing the grocery operations, Goodfood retained 233 employees. The company stated that it anticipates no job losses associated with the court proceedings but may implement targeted workforce reductions.
Throughout the court proceedings, customers will still be able to place orders for Goodfood’s products, which the company will continue to fulfill. Goodfood was founded in 2014 by Jonathan Ferrari and Neil Cuggy. Ferrari resigned as CEO on August 25, 2025, and Cuggy, who was then the president and COO, departed by January 16, 2026, as per court records.
Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, who assumed the roles of COO and president.