Roomba maker iRobot announces bankruptcy — brand will live on under ownership of former supplier

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In a somewhat unsurprising turn of events for anyone who’s been following the robot vacuum market, iRobot, the maker of the Roomba, has announced bankruptcy and was sucked up by its former main supplier, Picea Group. According to a Bloomberg report, Picea had already bought up iRobot’s $190 million debt from Carlyle Group Inc, and now owns the marque.

The story leading up to the bankruptcy and buyout is a sad tale of a company losing its edge and then being repeatedly kicked when it was down. Roomba is…



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Roomba maker iRobot announces bankruptcy — brand will live on under ownership of former supplier


In a somewhat unsurprising turn of events for anyone who’s been following the robot vacuum market, iRobot, the maker of the Roomba, has announced bankruptcy and was sucked up by its former main supplier, Picea Group. According to a Bloomberg report, Picea had already bought up iRobot’s $190 million debt from Carlyle Group Inc, and now owns the marque.

The story leading up to the bankruptcy and buyout is a sad tale of a company losing its edge and then being repeatedly kicked when it was down. Roomba is…



Source link

Disclaimer

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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