A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company aims to restructure with new ownership or investor support. Goodfood took the initial step by filing for protection with the Superior Court of Quebec, which grants a 30-day shield from creditor actions to allow companies to address debts without new lawsuits interfering. The company plans to leverage this protection to restructure effectively, with intentions to seek potential buyers or investors for its business and assets.
Court records reveal that Goodfood faced financial challenges due to debts owed to creditors, prompting the need for court intervention and potential sale considerations. Despite previous attempts to launch an on-demand grocery service in November 2021, which was ultimately discontinued in October 2023 due to profitability issues, the company retained its workforce of 233 employees. Goodfood reassures that job losses are not expected directly from the court proceedings, although targeted workforce adjustments may occur.
During the ongoing court process, Goodfood will continue to fulfill customer orders. Founded in 2014 by entrepreneurs Jonathan Ferrari and Neil Cuggy, Goodfood recently witnessed leadership changes, with Ferrari stepping down as CEO in August 2025, and Cuggy departing as president and COO by January 2026. Following these transitions, CEO Selim A. Bassoul relinquished his position earlier this week, succeeded by Najib Maalouf, the former COO and president.
