Overview
- The Roomba maker filed for Chapter 11 in Delaware and signed a restructuring support agreement for Picea to acquire 100% of the company.
- iRobot said product support, the mobile app and customer programs will continue during the proceedings.
- The transaction requires bankruptcy-court approval, with the companies targeting completion around February 2026, after which trading on Nasdaq would cease.
- Existing common shareholders are expected to receive no equity in the reorganized company if the plan is approved.
- SEC filings show iRobot owed Picea more than $161 million as of late November, reflecting strains from low-cost competition and tariff burdens.