iRobot files Chapter 11; Chinese manufacturer Picea to acquire as tariffs, debts mount
17h
Breaking
2
Roomba maker iRobot filed for Chapter 11 and agreed to be acquired and taken private by Shenzhen Picea Robotics as mounting debt and tariff costs squeezed the company. iRobot disclosed roughly $3.4 million in unpaid U.S. import tariffs, nearly $100 million owed to Picea, a $200 million loan taken during a failed Amazon merger review, and a 33% drop in U.S. revenue as Vietnam-made Roombas faced new U.S. import fees; Picea also markets its own 3i brand and lists partners including Shark and Anker’s Eufy.
Corporate Bankruptcies
Consumer Electronics
Corporate Bankruptcy