iRobot Enters Chapter 11 Process under Picea Acquisition Agreement

iRobot announced a restructuring agreement with Picea on December 14, 2025 and began a prepackaged Chapter 11 process in Delaware. Under the proposed transaction, its secured lender and principal contract manufacturer would receive all the equity in the reorganized company.

The agreement involved Shenzhen Picea Robotics and Santrum Hong Kong. iRobot said the plan would reduce debt and support continued operations and product development. At the time of the announcement, it expected the court-supervised process to finish by February 2026.

For customers and distribution partners, the company said it expected ordinary operations to continue, including app functionality, product support and supply-chain relationships. It filed motions seeking permission to maintain employee commitments and make payments to suppliers and other creditors during the process. Those statements described the continuity arrangements sought at the start of restructuring.

The proposed ownership transfer had a different consequence for existing common shareholders: iRobot expected their shares to be cancelled without recovery if the plan was approved. This December announcement established the agreement and court process. The separate January 23, 2026 completion notice records when Picea actually acquired the equity and iRobot emerged as a private company.