Roomba maker iRobot files for bankruptcy, to go private after buyout

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Roomba vacuum cleaner maker iRobot said on Sunday that it had filed for bankruptcy protection, and would go private after being acquired by Picea, its primary manufacturer. The company, which raised concerns about staying in business in March, filed for bankruptcy in the District of Delaware as it grapples with macroeconomic and tariff-related uncertainties.

iRobot faces competition from Chinese rivals such as Ecovacs Robotics, which offer advanced features at lower prices.

iRobot said it will continue operations with no anticipated disruption to its…



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Roomba maker iRobot files for bankruptcy, to go private after buyout



Roomba vacuum cleaner maker iRobot said on Sunday that it had filed for bankruptcy protection, and would go private after being acquired by Picea, its primary manufacturer. The company, which raised concerns about staying in business in March, filed for bankruptcy in the District of Delaware as it grapples with macroeconomic and tariff-related uncertainties.

iRobot faces competition from Chinese rivals such as Ecovacs Robotics, which offer advanced features at lower prices.

iRobot said it will continue operations with no anticipated disruption to its…



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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