Key Metrics
11.26
Heat Index-
Impact LevelMedium
-
Scope LevelNational
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Last Update2025-12-15
Key Impacts
Positive Impacts (1)
Event Overview
This event represents a strategic financial maneuver where a company uses bankruptcy protection to streamline an acquisition. It highlights the complexities of corporate restructuring and the role of secured lenders in facilitating such transactions, indicating a shift in ownership and operational control.
Collect Records
iRobot Initiates Pre-Packaged Chapter 11 Bankruptcy for PICEA Acquisition
iRobot, a manufacturer of robotic vacuum cleaners, has signed a restructuring support agreement with its secured lenders and main contract manufacturer, PICEA (including Sankyo Robotics and Santrum). To facilitate the acquisition by PICEA, iRobot and some of its affiliates have voluntarily initiated a pre-packaged Chapter 11 bankruptcy process in Delaware, USA. The company expects to complete this process by February 2026. Under the terms of the agreement, PICEA will acquire 100% of iRobot's equity, significantly reducing iRobot's debt and enabling it to continue operations, product development, and maintain its global presence.