Online Wine Club Winc Files for Bankruptcy a Year After Going Public
- Wine subscription service raised $22 million in 2021 IPO
- Counts Meta as one of biggest creditors, according to filing
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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.