Goodfood Market Corp., a Montreal-based meal kit business, has been granted creditor protection by a Quebec court to facilitate restructuring efforts with new ownership or investor support. The company initiated this process by filing an application with the Superior Court of Quebec, which issued an initial order providing 30 days of protection from creditors. This protection period may be extended during subsequent court hearings as the company progresses with its restructuring plans.
Goodfood aims to utilize the creditor protection to restructure its operations effectively. The company plans to seek court approval to solicit potential buyers or investors for the business and its assets in the future. Court documents reveal that Goodfood faced financial challenges, leading to the need for court intervention and potential sale discussions due to outstanding debts.
While Goodfood is renowned for its meal kit services, it attempted to launch an on-demand grocery division in November 2021, aiming for quick deliveries within 30 minutes. However, by October 2023, this venture was discontinued as it proved unsustainable. Despite discontinuing this operation, the company retained 233 employees, assuring no immediate job losses due to the court proceedings, although targeted workforce reductions may occur.
Throughout the court process, Goodfood will continue fulfilling customer orders without disruption. The company’s founders, Jonathan Ferrari and Neil Cuggy, established Goodfood in 2014. Ferrari resigned as CEO in August 2025, followed by Cuggy leaving his role as president and COO in January 2026. Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, the former COO and president.