iRobot, the maker of the Roomba vacuum cleaner, has taken bankruptcy protection and is headed to go private following its sale to its primary manufacturer, Picea Robotics. It has been experiencing a hard time because of intense competition with cheaper brands, particularly Chinese ones and the increase in costs due to new U.S tariffs. Even as iRobot continues to dominate the robotic vacuum market in the U.S. and Japan, declining profits have forced the company to reduce prices and invest more in upgrades. The company claims that it will not stop the production of its products and services that will assist its consumers.
Roomba Maker iRobot Files For Bankruptcy, Pursues Manufacturer Buyout
