Roomba maker files for bankruptcy

The American company behind the robot vacuum cleaner Roomba has filed for bankruptcy after 35 years in business.

On Sunday, iRobot Corporation said it was seeking Chapter 11 protections as it continues to battle increased competition as well as recent tariffs, according to a press release from the company and filings with the Bankruptcy Court for the District of Delaware.

The company reported $480.3 million in both assets and liabilities, and said it will be wholly acquired by its primary manufacturer and lender, Shenzhen-based PICEA Robotics.

“This agreement represents a critical step toward strengthening iRobot’s financial foundation and positioning the Company for long-term growth and innovation,” iRobot said in a press release, adding that it expects to complete the Chapter 11 process by February.

The company said the move is not expected to disrupt its “app functionality, customer programs, global partners, supply chain relationships, or ongoing product support.”

This is a developing story. More to come.