A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure with a new owner or investor support. The Montreal-based meal kit provider disclosed on Wednesday that it initiated the process by filing an application with the Superior Court of Quebec.
Following the court’s decision, which typically grants a 30-day shield from creditors, prohibiting them from pursuing legal action to recover debts, Goodfood aims to leverage this protection to facilitate its restructuring efforts. The company intends to seek approval from the court to explore potential buyers or investors for its business and assets.
Court filings reveal that Goodfood faced financial challenges, prompting the need for court intervention and potential sale discussions due to significant debts owed. Despite discontinuing its on-demand grocery division in October 2023 after struggling to achieve profitability, the company retained its workforce of 233 employees.
Goodfood assured that no immediate job losses are expected due to the ongoing court proceedings but mentioned the possibility of targeted workforce reductions. Throughout this process, customers can continue to place orders that Goodfood will fulfill without disruption.
Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood experienced leadership changes with Ferrari resigning as CEO in August 2025 and Cuggy, who served as president and COO, departing in January 2026. Recently, CEO Selim A. Bassoul stepped down, and Najib Maalouf assumed the role of chief operating officer and president.
This development underscores Goodfood’s proactive steps to navigate financial challenges and seek a viable path forward under creditor protection.