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 investor support. Goodfood took the first step by filing an application with the Superior Court of Quebec to shield itself from creditors. The court granted an initial order providing 30 days of protection, during which creditors are prohibited from initiating new lawsuits to collect debts.
The creditor protection period can be extended as applicants progress with their restructuring plans. Goodfood intends to restructure and views the creditor protection as crucial in providing time and flexibility for this process. The company plans to seek court approval to solicit potential buyers or investors for its business and assets.
Court documents reveal that Goodfood faced financial challenges, prompting the need for court intervention and potential sale due to outstanding debts. While the company is renowned for its meal kit services, it ventured into an on-demand grocery division in November 2021, aiming for quick deliveries within 30 minutes. However, by October 2023, the venture was discontinued as it failed to generate profits.
Despite halting the grocery operations, Goodfood retained 233 employees. The company assures that there are no expected job losses tied to the court proceedings but mentions the possibility of targeted workforce reductions. Throughout the court process, customers can continue placing orders that Goodfood will fulfill.
Established in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood witnessed leadership changes as Ferrari resigned as CEO in August 2025, while Cuggy, serving as President and COO, departed by January 2026 according to court filings. Recently, CEO Selim A. Bassoul stepped down and was succeeded by President and COO Najib Maalouf.
This development comes as Alimentation Couche-Tard eyes the takeover of Polish rival Zabka, following its recent acquisition of 7-Eleven.