Robot Vacuum Roomba's Parent Company Is Filing For Bankruptcy After Cash Struggles And A Failed Acquisition By Amazon

Roomba parent iRobot files bankruptcy after cash struggles and failed Amazon deal.
Matilda
Robot Vacuum Roomba's Parent Company Is Filing For Bankruptcy After Cash Struggles And A Failed Acquisition By Amazon
Roomba Parent Company Files for Bankruptcy In a shocking turn for the robotics industry, iRobot, the company behind the iconic Roomba vacuum, has filed for Chapter 11 bankruptcy. The announcement comes after decades of innovation and millions of robotic vacuums sold worldwide. iRobot’s financial struggles, coupled with a failed acquisition attempt by Amazon, have forced the company to seek bankruptcy protection in the District of Delaware. Credit: Google The Massachusetts-based robotics pioneer confirmed in a Sunday press release that it would be acquired by its primary lender, Shenzhen Picea, a manufacturer with R&D and production facilities in China and Vietnam. The acquisition promises to keep iRobot operational while ensuring payments to vendors, creditors, and employees continue without interruption. How the Bankruptcy Will Affect Roomba Products Under the terms of the deal, iRobot will transition into a private company owned by Picea. Public trading of its stock will end, removin…