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Roomba-maker iRobot Warns of Possible Shutdown Within 12 Months
Roomba maker iRobot has warned it may cease operations within 12 months unless it can refinance debt or find a buyer, just one day after launching a new vacuum cleaner line. In its March 12 quarterly report, the company disclosed it had spent $3.6 million to amend terms on a $200 million Carlyle Gro...
Roomba maker iRobot has warned it may cease operations within 12 months unless it can refinance debt or find a buyer, just one day after launching a new vacuum cleaner line. The robot vacuum pioneer has initiated a formal strategic review after a failed Amazon acquisition, the departure of founder Colin Angle, and layoffs affecting over half its workforce. iRobot cited mounting competition from Chinese manufacturers and expects continued losses for "the foreseeable future."
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