iRobot Corp., the maker of the Roomba robotic vacuum, filed for Chapter 11 bankruptcy protection on Monday, triggering a sharp sell-off in its shares and signaling a near-total loss for common stockholders.
The Massachusetts-based company said it has entered a court-supervised restructuring agreement that will result in its acquisition by its primary contract manufacturer, Shenzhen-based Picea Robotics, along with affiliated partners. Under the plan, iRobot will be taken private following the completion of the bankruptcy process, which is expected in early 2026.
