Core Viewpoint - iRobot has filed for Chapter 11 bankruptcy protection, marking a significant shift for the company that pioneered the robot vacuum market with its Roomba product line [1][2]. Company Overview - Founded in 1990, iRobot launched the first Roomba in 2002 and became synonymous with robot vacuums, but has faced increasing competition from brands like Ecovacs and Roborock, leading to a decline in market share [2]. - The company attempted to strengthen its position through a proposed acquisition by Amazon in 2022, which was ultimately blocked by regulators, leaving iRobot to navigate a challenging competitive landscape alone [3]. Financial Restructuring - iRobot's restructuring plan involves acquisition by Shenzhen Picea Robotics, its primary manufacturing partner, which aims to ensure continuity in operations and product availability [1][5]. - The CEO of iRobot stated that this transaction is crucial for securing the company's long-term future and improving its financial position [5][9]. Product Strategy - In response to competitive pressures, iRobot revamped its product line and collaborated with Picea to introduce new models while also reducing prices [4]. - Despite these efforts, the company continued to lose market ground, exacerbated by US tariffs [4]. Consumer Implications - iRobot products will remain available through major retailers, but potential buyers may have concerns about the company's future stability following the bankruptcy filing [5][6]. - While current Roomba models are still highly rated, consumers are advised to consider alternatives from brands with more stable prospects, such as Roborock and Ecovacs, especially for long-term app support and updates [6][8].