Troika Media Group, Inc., along with its 12 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York on December 7, 2023. The debtor listed its assets in the range of $50 million to $100 million and liabilities in the range of $100 million to $500 million. The debtor is represented Brian S. Lennon of Willkie Farr & Gallagher LLP as its legal counsel.

The debtor also hired Jefferies LLC as its investment banker, Areté Capital Partners, LLC as its financial advisor, and Kroll Restructuring Administration LLC as its claims and noticing agent.