Online Wine Club Winc Files Bankruptcy a Year After Going Public

Online wine club Winc Inc. filed for Chapter 11 bankruptcy, just over a year after the company’s initial public offering.

The subscription service listed $50.3 million of assets and $36.8 million in liabilities in its bankruptcy petition, which was filed Wednesday in Delaware. The company is arranging a buyer for its assets and has hired Canaccord Genuity Group Inc. as its investment banker, according to court papers.

Chapter 11 bankruptcy allows firms to keep operating while they work out a plan to repay creditors.

Winc was founded in 2012 as Club W. It’s aimed at helping younger consumers buy ...