iRobot filed for Chapter 11 bankruptcy protection in the United States and announced a court-supervised plan for Picea Robotics to buy substantially all assets and 100 percent of shares, a transaction that would take the company private if a U.S. bankruptcy court approves it.Gary Cohen said the restructuring and proposed sale represent a pivotal milestone that will strengthen iRobot’s financial position, eliminate debts, inject new capital and aim to preserve production, supply relationships and customer support during the transition.The filing followed years of intensified competition from lower-cost rivals such as Ecovacs and Roborock, a failed earlier acquisition attempt by Amazon that left iRobot with a termination fee, steep revenue declines and a sharp fall in workforce and equity value, and creditors, regulators and the court will now weigh whether the Picea offer is the best outcome.