A Quebec court has approved Goodfood Market Corp.’s request for creditor protection as the company seeks to restructure under new ownership or with support from investors. The Montreal-based meal kit business initiated the process of shielding itself from creditors by filing an application with the Superior Court of Quebec.
The court granted an initial order, granting Goodfood a 30-day protection period from creditors, preventing them from initiating new legal actions to collect debts during this time. Typically, this protection period can be extended in subsequent hearings as companies progress with their restructuring or winding down efforts.
Goodfood’s objective is to restructure, and the company views creditor protection as crucial to providing the necessary time and flexibility to achieve this goal. The company intends to seek court approval to engage potential buyers or investors for the business and its assets in the future.
According to court documents, Goodfood faced financial challenges, prompting the need for court intervention and potential sale discussions due to outstanding debts. While Goodfood is recognized for its meal kit offerings, court records reveal an unsuccessful attempt to launch an on-demand grocery division in November 2021, which had to be discontinued by October 2023 due to profitability issues.
Despite discontinuing this venture, Goodfood maintained a workforce of 233 employees. The company assures that it does not anticipate job losses related to the court proceedings but acknowledges the possibility of targeted workforce reductions.
Throughout the court proceedings, Goodfood will continue to accept and fulfill customer orders. The company’s founders, Jonathan Ferrari and Neil Cuggy, established Goodfood in 2014. Ferrari resigned as CEO on August 25, 2025, while Cuggy, who served as president and COO, departed by January 16, 2026, as per court records.
Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, the company’s COO and president.
