Goodfood seeks creditor protection and may sell business
Goodfood creditor protection signals a major turnaround as the meal kit firm seeks new ownership, outside investment, and a possible sale while keeping orders open.
Montrealbased meal kit company Goodfood Market Corp. has filed for creditor protection as it looks to restructure under new ownership or with outside investors.
The company said it submitted an application to the Superior Court of Quebec, which, if approved, would temporarily shield it from creditors while it explores a turnaround plan and possible sale.
Goodfood said customers should still be able to place orders during the court process, and it does not expect broad layoffs, though targeted workforce cuts could happen. The company was founded in 2014 and recently named Najib Maalouf as chief executive after Selim A. Bassoul stepped down.