Overview
- Under a restructuring support agreement, Shenzhen PICEA Robotics will acquire 100% of iRobot’s equity and the company will be taken private, with existing common shareholders receiving no recovery.
- Picea plans to cancel roughly $190 million remaining on a 2023 loan and about $74 million owed under manufacturing agreements, while filings indicate employees, vendors and other creditors are expected to be paid in full.
- iRobot says operations will continue during the court process with no anticipated disruption to device functionality, the app, customer programs, supply chains or product support.
- The Chapter 11 case was filed in Delaware and the prepackaged plan targets completion by February 2026, subject to bankruptcy court approval.
- Court documents cite intensified low‑cost competition and a 46% U.S. tariff on Vietnamese imports that added about $23 million to 2025 costs, following the collapse of Amazon’s proposed acquisition in January 2024.