Gary Cohen said the Chapter 11 filing and proposed sale to Shenzhen PICEA Robotics Co., the Chinese contract manufacturer that already makes Roomba units, will strengthen iRobot’s financial position and provide continuity for customers, partners and employees.Under the plan the buyer, identified as Picea Robotics, would acquire substantially all assets and 100 percent of shares, eliminate debts, inject new capital and take the maker of Roomba private, subject to U.S. bankruptcy court approval and an expected closing in February 2026.iRobot warned that common shareholders will receive no recovery; the company has faced fierce competition from lower-cost rivals such as Ecovacs, Roborock and Dreame and the collapse of a $1.7 billion Amazon deal blocked by the EU, while regulators and the court will weigh whether the sale is the best outcome for creditors, employees and other stakeholders.