A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the Montreal-based meal kit company seeks to restructure under new ownership or with support from investors. The company filed an application with the Superior Court of Quebec to shield itself from creditors, receiving an initial order providing 30 days of protection from new lawsuits by creditors attempting to collect debts.
The creditor protection period, usually extended in subsequent hearings, allows Goodfood the necessary time and flexibility to carry out its restructuring plans. The company intends to seek court permission to attract potential buyers or investors for its business and assets.
Facing significant debts, court documents reveal Goodfood’s unsuccessful attempt to launch an on-demand grocery division in November 2021, which was discontinued by October 2023 due to profitability challenges. Despite this, the company retained 233 employees and anticipates no job losses during the proceedings but may implement targeted workforce reductions.
Throughout the court process, Goodfood will continue fulfilling customer orders. Founded in 2014 by Jonathan Ferrari and Neil Cuggy, the company saw leadership changes as Ferrari stepped down as CEO in August 2025, followed by Cuggy leaving his role as president and COO in January 2026. Recently, CEO Selim A. Bassoul resigned and was succeeded by president and COO Najib Maalouf.
