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18/12/2025
Thursday
THIS DAY IN HISTORY:
18 December 
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
18 December
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
IROBOT, A MANUFACTURER OF ROBOT VACUUM CLEANERS, HAS DECLARED BANKRUPTCY
A popular developer of household robotics from the United States, iRobot Corp., has applied to the court for protection from creditors. As part of the approved financial recovery plan, control of the corporation will be transferred to a consortium from China (headed by Shenzhen PICEA Robotics Co.).
This step means a complete write-off of the company's common securities. As a result, these shares will cease to exist and become worthless. The company emphasizes that the judicial procedure will allow it to maintain its operational activities, continue working, provide for employees, and incur obligations to suppliers under the supervision of the court.
The company was founded by MIT graduates about 35 years ago. She was considered one of the symbols of entrepreneurship in the technology market. The Roomba robot vacuum cleaner, released in 2002, brought the company worldwide fame.
In total, over 40 million devices have been sold worldwide during the existence of the business. But recently, the economic condition of the manufacturer has seriously deteriorated. This was affected by supply chain problems caused by the pandemic. The general increase in costs and fierce competition with more budget-friendly brands also had an impact. The 44% drop in market capitalization since the beginning of 2025 has become one of the key factors for seeking judicial protection.
The path to restructuring was not easy. Back in 2022, iRobot tried to find a buyer in the face of Amazon.com Inc. However, the $1.7 billion deal was blocked by the European Union's antitrust regulators.
The organization received compensation in the amount of over $90 million. But the money was spent on consulting fees and partial repayment of the $200 million loan provided by the Carlyle Group. Later, the outstanding balance of this debt in the amount of $191 million was purchased by Santrum Hong Kong, part of the Shenzhen PICEA Group. This created the basis for subsequent negotiations on restructuring and additional financing.
Photo: Freepik
This step means a complete write-off of the company's common securities. As a result, these shares will cease to exist and become worthless. The company emphasizes that the judicial procedure will allow it to maintain its operational activities, continue working, provide for employees, and incur obligations to suppliers under the supervision of the court.
The company was founded by MIT graduates about 35 years ago. She was considered one of the symbols of entrepreneurship in the technology market. The Roomba robot vacuum cleaner, released in 2002, brought the company worldwide fame.
In total, over 40 million devices have been sold worldwide during the existence of the business. But recently, the economic condition of the manufacturer has seriously deteriorated. This was affected by supply chain problems caused by the pandemic. The general increase in costs and fierce competition with more budget-friendly brands also had an impact. The 44% drop in market capitalization since the beginning of 2025 has become one of the key factors for seeking judicial protection.
The path to restructuring was not easy. Back in 2022, iRobot tried to find a buyer in the face of Amazon.com Inc. However, the $1.7 billion deal was blocked by the European Union's antitrust regulators.
The organization received compensation in the amount of over $90 million. But the money was spent on consulting fees and partial repayment of the $200 million loan provided by the Carlyle Group. Later, the outstanding balance of this debt in the amount of $191 million was purchased by Santrum Hong Kong, part of the Shenzhen PICEA Group. This created the basis for subsequent negotiations on restructuring and additional financing.
Photo: Freepik
17.12.2025
