Goodfood Market Corp., a Montreal-based meal kit business, has been granted creditor protection by a Quebec court as part of its restructuring efforts to attract new ownership or investment. The company took the necessary legal steps by filing an application with the Superior Court of Quebec, which issued an initial order providing a 30-day shield from creditor actions seeking debt collection.

During this creditor protection period, Goodfood aims to restructure its operations with the flexibility and time needed to pursue potential buyers or investors for its business and assets. Court documents reveal that the company faced financial challenges, prompting the need for a strategic sale due to substantial debts owed to creditors.

Although Goodfood is widely recognized for its meal kit offerings, it attempted to launch an on-demand grocery service in November 2021 to deliver groceries within 30 minutes. However, by October 2023, the venture was discontinued as it failed to achieve profitability.

Despite discontinuing the grocery division, Goodfood retained 233 employees and anticipates no immediate job losses due to the court proceedings. However, targeted workforce reductions may occur in the future. Throughout the restructuring process, Goodfood will continue fulfilling customer orders without disruptions.

Founded in 2014 by Jonathan Ferrari and Neil Cuggy, Goodfood saw changes in its executive leadership, with Ferrari resigning as CEO in August 2025 and Cuggy, the former president and COO, departing in January 2026. Recently, CEO Selim A. Bassoul stepped down and was succeeded by Najib Maalouf, who assumed the roles of chief operating officer and president.