Robot Vacuum Roomba Maker Files for Bankruptcy After 35 Years
a day ago
- #restructuring
- #bankruptcy
- #equity
- A Massachusetts-based company filed for Chapter 11 bankruptcy in Delaware on Dec. 14.
- Shenzhen PICEA, a vacuum cleaner maker, will receive the entire equity stake in the reorganized company.
- The company’s common stock will be wiped out under the proposed Chapter 11 plan.
- The plan allows the debtor to continue operating as a going concern.