Shares of iRobot Corporation (Nasdaq: IRBT), maker of the Roomba autonomous vacuum cleaner, are crashing today after the company announced that it will seek Chapter 11 bankruptcy protection.
iRobot Corporation (NASDAQ:IRBT), the maker of Roomba robotic vacuum cleaners, has filed for Chapter 11 bankruptcy in the District of Delaware and plans to be acquired by its secured lender and primary contract manufacturer, Shenzhen Picea Robotics, through a court-supervised process. The company said the pre-packaged Chapter 11 filing is intended to strengthen its financial foundation, reduce ...
iRobot is seeking bankruptcy protection, with plans to be purchased by its primary manufacturer. The company has been seeing steep losses, higher costs, and lower revenue due to the Trump administration's tariff policies.
Stock futures are gaining ground Monday morning at the start of a week filled with economic data and earnings reports; the price of gold is approaching the record highs the precious metal last reached in mid-October; iRobot shares are sinking after the maker of the Roomba robot vacuum said over the weekend that it plans to file for bankruptcy; Sanofi shares are also falling amid disappointing u...
iRobot (IRBT) filed for Chapter 11 bankruptcy, ceding control to Picea Robotics amid mounting competition and tariff pressures. IRBT faces deteriorating profitability, $23M in tariff costs, and expects to complete restructuring by February 2026.
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