The Quirky invention platform today voluntarily filed for Chapter 11 bankruptcy.

"Through this process we hope to find a new home for the Quirky community, where innovation can continue to be made accessible," the company said.

Quirky's Wink business will be acquired by Flextronics International USA, Inc. for $15 million—unless a better offer comes along. If a higher bid is made, Quirky will conduct an auction, and seek court approval to close the sale within 60 days.

Until then, the Wink smart home subsidiary will carry on with day-to-day operations, and engineers and designers will still work on the platform. The Wink Hub and Wink Relay are still for sale at The Home Depot and Amazon, and the company's support team is still active.

Quirky aims to auction off other assets, including the Quirky online community and brand name.

"While the company was previously forced to temporarily suspend Quirky product evaluation and development projects, it is hopeful that the ultimate successful purchaser will restart those operations and reestablish a meaningful and productive relationship with the community members," a news release said.

Launched in June 2009, Quirky served as an online forum for inventors, and a Web store to sell innovative products. Customers could find anything from Wi-Fi-connected piggy banks to smart home air conditioners.

In April, Quirky made headlines when its Wink smart home hub went into lock-down mode, shutting out servers and users. The outage—"completely preventable and caused by a security measure that was put in place to protect you and your family," the company said—required some owners to return their Wink Hub for repairs.