iRobot, maker of Roomba, files for bankruptcy
iRobot—the company behind those Roomba robot vacuums—has filed for bankruptcy in the District of Delaware.
This comes as the brand shifts to private ownership after being bought by its primary manufacturer, Picea.
Economic hurdles and tariff issues pushed iRobot to this point, but they've promised that your Roomba's app and support won't be interrupted during the transition.
What happened to iRobot?
iRobot was once valued at $3.56 billion back in 2021 but has now dropped to about $140 million.
The company tried to keep up with cheaper rivals like Ecovacs Robotics, which offer more features for less money, but couldn't compete.
Even a potential Amazon buyout didn't pan out.
Now, with demand dropping post-pandemic, iRobot is hoping this restructuring will help it survive in a tough market.