iRobot Corp. (IRBT) announced that it has voluntarily commenced a pre-packaged Chapter 11 process in the District of Delaware. The company expects to complete this court-supervised restructuring by February 2026. This marks a significant step in addressing iRobot's financial challenges and establishing a path toward long-term stability.
As part of the restructuring, iRobot has entered into a Restructuring Support Agreement (RSA) with its secured lender and primary contract manufacturer, Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited. Under the agreement, Picea will acquire 100% of iRobot's equity interests through the court-supervised process.
Upon completion of the transaction, iRobot will become a private company wholly owned by Picea. As a result, iRobot's shares of common stock will be delisted from The Nasdaq Stock Market LLC and will no longer trade on any national stock exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.