The Montreal-based meal-kit company said the net loss, up from $22 million in the same time last year, was mostly caused by a one-time $46-million charge from a cost-cutting project and another $1.2 million as it discontinued products after abandoning its 30-minute delivery business. (The Logic)

Talking point: The company said its net sales fell 37 per cent quarter over quarter to $50 million, which it attributed to COVID-19 lockdowns ending and consumers changing their habits. For the full financial year, the company’s net loss was nearly $122 million compared to about $32 million the previous year, as net sales fell to nearly $269 million from $379 million. Goodfood announced in October it was closing two of its micro-fulfillment centres as it reviews its operations in a push to achieve positive cash flow and profitability. In April, it laid off 70 staff in its third round of layoffs over six months as it struggled amid high inflation, supply-chain issues and labour shortages. Goodfood said it expects adjusted EBITDA to be positive in the first half of its 2023 financial year.