Roomba maker iRobot announces bankruptcy — brand will live on under ownership of former supplier

iRobot, the company behind Roomba, has declared bankruptcy and been acquired by its former supplier, Picea Group, after facing challenges in the robot vacuum market. The decline in iRobot's market share was attributed to increased competition from Chinese robotics companies offering more innovative designs at lower prices. Failed acquisition attempts by Amazon and trade issues further contributed to iRobot's downfall. Despite the bankruptcy, the Roomba brand is expected to continue under Picea Group's ownership alongside other well-known houseware brands.