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The fortunes of one of many few family names in robotics have continued to sink. In a submitting with the U.S. Securities and Change Fee final week, iRobot Corp. mentioned {that a} Chinese language firm has acquired its debt and that it’s nonetheless searching for alternate options to chapter.
Santrum Hong Kong Co., a subsidiary of Shenzhen, China-based Picea Robotics Co., has acquired a credit score settlement from associates of The Carlyle Group price $190.6 million in principal and curiosity, mentioned the SEC submitting.
“As of November 24, 2025, the corporate owed Picea $161.5 million for the manufacturing of merchandise, $90.9 million of which was overdue,” mentioned iRobot. “The corporate and Picea are engaged in lively discussions concerning a mutually agreeable decision of the non-payment by the corporate of quantities owed to Picea.”
In brief, iRobot just isn’t presently capable of pay its contract producer, which is now additionally its main creditor. The Bedford, Mass.-based robotic vacuum firm owes a complete of greater than $350 million.
Roomba maker runs into a number of obstacles
Since 2002, iRobot has offered greater than 50 million programs worldwide. In 2016, activist buyers pressured the corporate to promote its protection unit, limiting its capability to diversify.
iRobot’s monetary troubles date again to at the very least 2022, when co-founder and CEO Colin Angle refuted claims that its Roombas may share non-public info whereas mapping properties.
Amazon.com Inc. introduced plans to accumulate iRobot for $1.7 billion, however the U.S. Federal Commerce Fee raised antitrust considerations. The corporate additionally laid off 10% of its employees in August 2022, blaming them on a restructuring, weak demand, and inflation.
In 2023, the European Union added to iRobot’s antitrust woes, despite the fact that the UK Competitors and Markets Authority had cleared the transaction. The EU’s preliminary discovering indicated that the acquisition “could limit competitors” within the robotic vacuum cleaner market.
On the similar time, cheaper fashions from China and extra succesful competitors from distributors reminiscent of Dyson affected iRobot, as did its delayed makes an attempt to get into the robotic garden mower market. Amazon and iRobot known as off their deal in early 2024, resulting in extra layoffs and Angle’s departure as CEO.
iRobot then named Gary Cohen as CEO that Might. In late 2024, iRobot laid off 105 workers, lowering its world workforce by practically 50% from the beginning of that 12 months.
In August 2025, iRobot famous that its second-quarter earnings of $127.6 million have been down 23.3% 12 months over 12 months. It was burning by its remaining $24.8 million in money, partly from the Amazon settlement, as of September.
Early final month, the corporate reported that it had “no sources” of extra capital and that it was exploring its choices within the hopes of discovering a associate or purchaser for the well-known shopper model.
Chart created by Google Gemini and verified by The Robotic Report.
iRobot prospects dim
Within the SEC submitting, iRobot famous that its inventory worth fell in response to its replace on its strategic assessment course of. It mentioned a possible bidder withdrew from negotiations in October after providing “a worth per share to accumulate our firm that was considerably decrease than the buying and selling worth of our inventory over the current months previous to the counterparty’s withdrawal.”
iRobot mentioned it is not going to present additional updates moderately than see its shares proceed to say no. “It’s unlikely that our ongoing assessment of strategic alternate options will lead to any transaction being consummated outdoors of a chapter course of,” it acknowledged.
Such a course of would lead to collectors and stockholders receiving no return, and the corporate may then should shut down.
Santrum gave iRobot till Jan. 15, 2026, to supply audited financials and preserve a minimal stage of core property underneath its mortgage phrases. This delays fee of $5.1 million in curiosity that was due in Oct. 28.
If the corporate is unable to satisfy these circumstances, and if Santrum decides to not lengthen the waiver, Picea may then seize property, and iRobot could be pressured to declare chapter. The Robotic Report will proceed following developments carefully.
