The parent company of Roomba, which has sold millions of cleaning robots, filed for Chapter 11 bankruptcy on Sunday after 35 years of operation. In a Sunday press release, Massachusetts-based robotics company iRobot said it had filed for bankruptcy protection in the District of Delaware court.The company said that it would be wholly acquired by its main manufacturer and lender, vacuum cleaner maker Shenzhen PICEA. Picea has R&D and manufacturing facilities in China and Vietnam, per the release. The Picea ...

How iRobot lost its way home https://t.co/fmxrAvJCuO ...

There’s something painfully American about the arc of iRobot, the company that taught your vacuum to navigate around the furniture. Founded in 1990 in Bedford, Massachusetts by MIT roboticist Rodney Brooks and his former students Colin Angle and Helen Greiner, the company filed for Chapter 11 bankruptcy on Sunday, punctuating a 35-year run that took it from the dreams of AI researchers to your kitchen floor and, finally, to the tender mercies of its Chinese supplier.Brooks, the founding director of MIT’s Co ...

Core Insights - iRobot, the maker of Roomba, has filed for Chapter 11 bankruptcy and will transfer its business to two Chinese companies, marking a significant decline in its market position [1] Company Summary - The decision to file for bankruptcy comes after a prolonged period of financial struggles for iRobot, indicating a major shift in its operational strategy [1] - The acquisition by Chinese firms suggests a move towards privatization, which may alter the company's future direction and management [1] Industry Context - The bankruptcy filing reflects broader challenges within the robotics and consumer electronics sectors, where companies face increasing competition and market pressures [1] - The involvement of foreign companies in acquiring American tech firms highlights ongoing trends in global investment and market consolidation [1]

当地时间12月14日，扫地机器人制造商iRobot宣布已与其有担保贷款方及主要合同制造商杉川机器人及 杉川子公司Santrum（统称"PICEA"）签署重组支持协议，通过法院监督程序推进PICEA收购iRobot事 宜。为推进交易，iRobot及其部分关联公司已主动向美国特拉华州法院启动预先打包第11章破产程序， 公司预计将于2026年2月前完成该程序。根据重组协议条款，PICEA将获得iRobot公司100%股权权益， 此举将显著降低公司负债水平，使iRobot得以维持正常运营、推进产品开发路线图并保持全球业务布 局。 ...

Dec 14 (Reuters) - iRobot (IRBT), the maker of the Roomba vacuum cleaner, filed for bankruptcy protection on Sunday, saying that it would go private after being bought by Picea Robotics, its primary ​manufacturer. The company, which raised concerns about staying in business in March, filed for Chapter 11 protection ‌in Delaware bankruptcy court as it grapples with increased competition from lower-priced rivals and new U.S. tariffs. iRobot generated about $682 million in total ‌revenue in 2024, but its p ...

Group 1 - iRobot has initiated a pre-packaged Chapter 11 bankruptcy process in the district of Delaware [1]

China Vanke made a renewed effort to muster bondholder backing for an onshore debt repayment due this week and avoid a default after the state-backed developer's plan was rejected, rekindling concerns... ...

Core Viewpoint - iRobot Corporation has entered into a Restructuring Support Agreement with its secured lender and primary contract manufacturer, Picea, to facilitate its acquisition through a court-supervised chapter 11 process, aiming to strengthen its financial foundation and ensure long-term growth and innovation [1][3][4] Group 1: Transaction Details - iRobot and certain affiliates have voluntarily commenced a pre-packaged chapter 11 process in the District of Delaware, expecting to complete it by February 2026 [2] - Under the terms of the Restructuring Support Agreement, Picea will acquire 100% of iRobot's equity interests, which will help deleverage the company's balance sheet and allow it to continue operations and product development [3][6] - The transaction is designed to enhance financial stability, reduce debt, and support continued innovation in iRobot's robotics and smart home device portfolio [3][6] Group 2: Operational Continuity - During the chapter 11 process, iRobot will continue its operations without disruption to app functionality, customer programs, or supply chain relationships, ensuring business continuity [5] - The company has filed customary motions with the Court to meet commitments to employees and make timely payments to vendors and creditors [5] Group 3: Future Outlook - Following court approval, iRobot expects to be better positioned for long-term innovation under Picea's ownership, transitioning to a private company wholly owned by Picea [6] - The transaction aims to provide a more stable balance sheet and renewed capacity for investment in next-generation robotics and smart home innovations [6] - Holders of iRobot's common stock are expected to experience a total loss of their investment, as all outstanding equity interests will be canceled if the chapter 11 plan is approved [7]

Core Viewpoint - iRobot has gained significant attention in the robotics stock market, with its stock price surging due to heavy trading volume and short interest, raising questions about its potential to reach $11 by 2026 [1] Company Overview - iRobot, founded in 1990, is a leader in consumer robotics, particularly known for its Roomba vacuum launched in 2002, and offers a variety of autonomous cleaning products globally [2] Stock Performance - iRobot's market cap is approximately $167 million, with the stock experiencing a 67% surge in the last five days, driven by speculation of a robotics-focused executive order from the Trump administration [3] - Despite the recent rally, iRobot's stock is down 34% year-to-date, facing challenges such as declining sales, increased costs, and pressures from tariffs and product delays [3] Financial Metrics - The company's EV-sales ratio stands at 0.7x, indicating a 50% discount compared to the sector, suggesting that the stock may be undervalued relative to its peers [4] Recent Financial Performance - iRobot reported revenue of $145.8 million in the latest quarter, which is 25% lower than the same period last year, with U.S. sales down 33%, EMEA down 13%, and Japan down 9% [5]