Overview
- The Roomba maker filed for Chapter 11 in Delaware under a restructuring support agreement that transfers 100% ownership to Shenzhen PICEA Robotics and affiliate Santrum Hong Kong.
- PICEA will cancel roughly $190 million from a 2023 loan plus about $74 million tied to manufacturing agreements, with filings indicating other creditors and suppliers will be paid in full.
- iRobot says devices, the app, customer programs, supply-chain relationships and product support will continue without interruption during the process.
- The company targets completing the court‑supervised reorganization by February 2026, after which it will become a private company owned by PICEA.
- Shares fell around 70% on the news, and the plan calls for common stock to be canceled and delisted from Nasdaq, leaving current shareholders with no recovery if approved.