American Virtual Cloud Technologies, Inc. along with its two affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on January 11, 2023. The debtor listed its assets in the range of $10 million to $50 million and liabilities of $13.92 million. The debtor is represented by Patrick J. Reilley of Cole Schotz P.C. as its legal counsel.

The debtor also hired SOLIC Capital Advisors, LLC as chief restructuring advisor and financial advisor, Northland Securities as investment banker and Kroll Restructuring Administration LLC as notice and claims agent.