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The maker of Roomba robot vacuums, iRobot, has filed for bankruptcy protection in Delaware. Once the company is done with its chapter 11 process, it plans to go private and be acquired by its China-based primary manufacturer, Picea Robotics.
The move follows the company’s September warnings of a reduction in revenue and a lack of options to withdraw capital amid rising competition and sales disruptions.
According to Reuters, the US’s reciprocal tariffs have significantly impacted…
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The maker of Roomba robot vacuums, iRobot, has filed for bankruptcy protection in Delaware. Once the company is done with its chapter 11 process, it plans to go private and be acquired by its China-based primary manufacturer, Picea Robotics.
The move follows the company’s September warnings of a reduction in revenue and a lack of options to withdraw capital amid rising competition and sales disruptions.
According to Reuters, the US’s reciprocal tariffs have significantly impacted…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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