US-listed company, whose profits have been in decline since the pandemic, will be taken over by Picea
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The US company behind the Roomba robot vacuum cleaner has filed for bankruptcy protection and agreed to be taken over by one of its Chinese suppliers.
iRobot, which is best known for debuting the Roomba vacuum cleaner in the early 2000s, will be taken over by a subsidiary of its main supplier, Picea Robotics.
The Roomba maker, which is listed in the US, said it had filed for Chapter 11 bankruptcy in Delaware as part of a restructuring agreement with Picea.
