Roomba maker iRobot gets cleaned out in Chapter 11

iRobot, the company behind autonomous vacuum cleaner brand Roomba, has filed for Chapter 11 bankruptcy protection, telling investors that its Chinese manufacturer will assume control going forward.

The business entered Chapter 11 proceedings on Sunday and initiated a restructuring support agreement (RSA) that would see Shenzhen-based Picea Robotics acquire the company in full.

Operations will run as usual throughout the Chapter 11 process, as well as meeting its financial commitments to staff, vendors, and creditors, iRobot said in a statement.

"Today's announcement marks a pivotal milestone in securing iRobot's long-term future," said CEO Gary Cohen. "The transaction will strengthen our financial position and will help deliver continuity for our consumers, customers, and partners."

"Together, we will work to continue advancing the industry-leading Roomba robots and smart home technologies that have defined the iRobot brand for more than three decades. By combining iRobot's innovation, consumer-driven design, and R&D ...