A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure under new ownership or with the assistance of investors. The Montreal-based meal kit provider announced its move to shield itself from creditors by filing an application with the Superior Court of Quebec.
The court has granted an initial order, offering the company 30 days of protection from creditors, preventing them from initiating legal actions to recover outstanding debts during this period. Typically, the creditor protection period can be extended during subsequent hearings as companies progress with their restructuring efforts.
Goodfood aims to restructure its operations, and the creditor protection status will provide the necessary time and flexibility to do so. The company plans to seek court approval to engage with potential buyers or investors for its business and assets.
According to court documents, financial challenges have led Goodfood to seek court protection and explore the possibility of a sale due to outstanding debts. Despite discontinuing its on-demand grocery division launched in November 2021, the company retained its 233 employees. Goodfood reassures no immediate job losses are anticipated as a result of the court proceedings, although targeted workforce reductions may occur.
Throughout the court proceedings, customers will still be able to place orders, which Goodfood will continue to fulfill. The company, founded in 2014 by Jonathan Ferrari and Neil Cuggy, witnessed leadership changes as Ferrari resigned as CEO in August 2025, followed by Cuggy’s departure as president and COO in January 2026. Recently, Selim A. Bassoul stepped down as CEO, with Najib Maalouf assuming the role of chief operating officer and president.