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.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.