One of America’s biggest consumer tech brand Roomba maker iRobot files for bankruptcy, sold to its Chinese supplier
iRobot, the maker of Roomba, has filed for bankruptcy and will be acquired by its supplier, Shenzhen PICEA Robotics. This move cancels $264 million in debt, allowing iRobot to continue operations as a private company. Intense competition from Chinese firms and the collapse of an Amazon acquisition deal led to the company's downfall after 35 years.
iRobot, the maker of Roomba, has filed for bankruptcy and will be acquired by its supplier, Shenzhen PICEA Robotics. This move cancels $264 million in debt, allowing iRobot to continue operations as a private company. Intense competition from Chinese firms and the collapse of an Amazon acquisition deal led to the company's downfall after 35 years.
