Montreal's Goodfood Gets Creditor Protection

Goodfood gets time to restructure.

A Quebec court gave Goodfood creditor protection. The company wants to restructure with a new owner or investors.

Goodfood filed for creditor protection with the Quebec court on Wednesday.

The court gave Goodfood 30 days of protection from creditors.

The creditor protection period can be extended later.

Goodfood plans to restructure with creditor protection.

The company will ask the court to find buyers or investors.

Goodfood owes millions to creditors and needs a sale.

Goodfood tried to start a grocery delivery service in 2021.

The grocery service was stopped in 2023 because it was not profitable.

Goodfood kept 233 employees after stopping the grocery service. The company may cut some jobs.

Customers can still order from Goodfood during the court process.

Another company is trying to buy a Polish rival.

Goodfood was started in 2014 by Jonathan Ferrari and Neil Cuggy. They both left the company.

The CEO of Goodfood stepped down and was replaced by the chief operating officer.

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