iRobot Files for Chapter 11, Plans Acquisition by Supplier Picea
- iRobot will transfer full ownership to supplier Picea through a pre-packaged Chapter 11 process.
- The company will continue normal operations during the restructuring, which is expected to conclude by February 2026.
iRobot has filed for Chapter 11 in Delaware as part of a court-supervised restructuring intended to stabilize its financial position. The process, which includes certain affiliates, is expected to wrap up by February 2026.
Under a pre-arranged deal, Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited will acquire full ownership of the company. Picea, iRobot’s secured lender and leading manufacturing partner, will take the company private, with all existing shares to be canceled and no recovery for shareholders.
In its official announcement, iRobot said it will continue normal operations during the process, with no expected impact on its app, customer support, or supplier partnerships. The deal aims to cut debt and allow continued investment in new products and technology.
Founded in 2002, iRobot introduced the first Roomba robot vacuum and has since sold millions of consumer robots worldwide. A pioneer in consumer robotics, the company offers a wide range of smart home products that use cleaning, mapping, and navigation technologies to help people keep their homes clean and comfortable.
🌀 Tom’s Take:
iRobot’s move into Chapter 11 is a full reset for one of consumer robotics’ original trailblazers. Handing the reins to its longtime supplier marks the end of its public chapter and the start of a new era, with hopes that its legacy of innovation can carry forward under tighter, private control.
Source: PR Newswire / iRobot
