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iRobot, the owner of the Roomba robot vacuum, has filed for Chapter 11 bankruptcy, stating that it will be acquired by its contract manufacturer, Picea Robotics. The Chinese-based company assumed iRobot’s $190 million loan earlier this month and, under the terms of iRobot’s restructuring, will waive that debt, along with the $161.5 million iRobot owes […]

After 35 years, the maker of the Roomba robot vacuum filed for bankruptcy protection late Sunday night. Following issuing warnings earlier this year that it was fast running out of options, iRobot announced it will enter Chapter 11 protection and plans to be acquired by its contract manufacturer, the Chinese-based Picea Robotic. The company says […]