The announcement that iRobot—the pioneering company behind the iconic Roomba robotic vacuum—has formally entered bankruptcy protection this week came with little surprise to those who had been following its financial trajectory. For months, CEO Gary Cohen had been transparent with investors, cautioning them that the firm’s cash reserves were dwindling and that, without a suitable acquisition or infusion of capital, its ability to continue operations would soon be compromised. When the last credible deal collapsed, the inevitable occurred: iRobot reluctantly filed for bankruptcy. Yet Cohen has made it clear that this event marks not an end but a vital inflection point—a deliberate transformation that he characterizes as the beginning of a new chapter in iRobot’s long and storied corporate life. He envisions a revitalized company that will reassert itself as a formidable force within the global robotics marketplace while exploring new, more sustainable business paths.
“iRobot is here to stay. We don’t expect any disruptions,” Cohen asserted with pointed optimism. Having been appointed to the helm in early 2024 after cofounder and former CEO Colin Angle’s resignation—an exit that followed the collapse of an anticipated Amazon acquisition—Cohen assumed the daunting task of orchestrating a turnaround. In a frank interview with *The Verge* this week, he insisted that rather than signaling defeat, bankruptcy represented a strategic realignment and a means of preserving the company’s long-term potential. He explained that the restructuring will safeguard the employment of roughly 500 individuals, sustain a beloved global brand headquartered in Boston, and allow for continued investments in engineering, research, and product development. The company even renewed a lengthy lease on its headquarters, underscoring its intent to remain operationally stable and firmly anchored.
While the move brings little comfort to shareholders, who will see the publicly traded company become privately owned, and to the many employees affected by layoffs over the preceding three years, it nonetheless offers reassurance to the millions of loyal Roomba owners worldwide. Cohen’s consistent message remains “business as usual.” He reiterates the commitment that iRobot will persist, with no interruptions to service or production.
Under the terms of a pre-packaged bankruptcy deal, anticipated for completion as soon as next month, iRobot will be acquired by its long-standing manufacturing partner and largest creditor, Picea Robotics—a major China-based producer of robotic appliances. Post-acquisition, iRobot will continue to function independently in name but will operate wholly under Picea’s ownership. Cohen credits Picea, which had served as iRobot’s principal manufacturing partner since before the Amazon negotiations faltered, with steering the company toward a more agile, consumer-oriented identity. This collaboration produced tangible outcomes: the March release of eight new robotic models—the most extensive product lineup in iRobot’s history. These devices included advanced lidar navigation and hybrid mopping technology, key features that helped close the technological gap between iRobot and its increasingly sophisticated Asian competitors. Although Cohen acknowledges that iRobot has not yet surpassed its rivals, he emphasizes that the company has made up several years of lost ground within just one, and is already preparing its next generation of products for a 2026 debut.
Even so, the first wave of new devices met with a mixed reception. Many bore a striking resemblance to midrange models produced by other Chinese brands, reflecting Picea’s influence and mass-manufacturing efficiency. Nevertheless, some innovations stood out: a dust-compacting bin that reduced dependence on auto-emptying docks and a retractable covering mechanism for the new roller mop attachment—both design elements originating with Picea’s engineering teams. When pressed about how much of the latest assortment had been conceived internally, Cohen described the process as a cooperative partnership, emblematic of iRobot’s evolving business model.
He further emphasized that the crucial element in iRobot’s turnaround has been speed—an area in which the company historically lagged. “By partnering with Picea, we can now move as fast and be as nimble as our Chinese competitors,” he explained. Under its previous leadership, iRobot had adhered to a technology-first philosophy, prioritizing innovation before considering its market applicability. This slower, more methodical approach once defined the company’s identity but proved ill-suited to an era dominated by aggressive competitors capable of iterating products at breakneck pace. Cohen also confirmed that the long-delayed, ultimately failed Amazon acquisition had stymied experimentation, as contractual provisions froze development pipelines. This stagnation, he noted, left consumers disillusioned with stagnant product lines and features that lagged behind the industry’s evolving standards.
Strategic missteps further compounded those difficulties. The company was late to develop combination vacuum-mops and multifunction cleaning docks—categories in which rivals had already entrenched themselves. The eventual release of iRobot’s own multifunction dock came only in late 2023, and its reception was tepid. In hindsight, Cohen admits, “customers want to map their homes in 20 minutes, not two hours,” pointing to navigation speed as a crucial expectation that iRobot’s earlier models failed to meet. The reliance on vision-based vSLAM technology rather than adopting lidar—a laser-based mapping system that provides faster and more precise spatial awareness—had proven to be a costly limitation. Though Angle, the company’s visionary founder, had maintained an unwavering belief in camera-driven navigation and machine learning, Cohen explained that the company lacked the necessary resources and executional discipline to fully commercialize that ambitious vision. “We had two hundred software engineers working on camera-based navigation, and we still couldn’t bring that technology to life,” he reflected. Evidence of those failed efforts, according to him, remained scattered across the headquarters, including hundreds of shelved prototypes like the abandoned robotic lawnmower project.
Cohen, whose professional background lies in consumer packaged goods rather than robotics engineering, regards his mission as one of cultural transformation—moving iRobot from obsession with technological purity to a mindset driven by user demand and commercial viability. The new products may appear rushed, even imperfect, but to him, they represent the essential first step in a longer journey toward renewed relevance. Borrowing pragmatically from competitors—effectively an “if you can’t beat them, join them” strategy—could indeed revitalize the brand, though critics caution that this risk includes diluting iRobot’s once-distinct identity.
Still, Cohen remains confident that future models will recapture more of the company’s distinctive DNA. “When I arrived,” he said, “the cupboard was full of ideas. There isn’t one concept Colin Angle didn’t think of.” The challenge, then, lies not in innovation but in execution—translating those visionary ideas into finished products that genuinely delight consumers. Among those dormant prototypes was the Terra robotic lawnmower, an idea well ahead of its time, which may yet find renewed purpose as the company explores outdoor automation.
Whether Cohen himself will be the one to oversee that next chapter remains uncertain; leadership arrangements are still under negotiation, and Picea has deferred comment until formal announcements are made. Nevertheless, the broader question persists: can Cohen’s consumer-driven vision coexist with Picea’s industrial efficiency to restore iRobot as a central innovator in home robotics? In his own words, the path forward demands cautious optimism—one step at a time. While acknowledging the rapid evolution of robotics, including emerging humanoid designs that remain largely experimental, he views the home environment as the ideal foundation for gradual expansion. From indoor cleaning devices to potential outdoor applications, Cohen hints that the company’s next act could revisit and refine many of its earlier ambitions.
The idea that the original creator and once-dominant force of the modern robot vacuum could reclaim leadership from entrenched competitors may sound improbable—perhaps as ambitious as a moonshot. Yet iRobot retains two invaluable assets: a globally recognized brand synonymous with innovation and trust, and a strong manufacturing ally capable of infusing it with renewed operational vigor. If this restructuring truly becomes a fusion of American creativity with Chinese production efficiency, that moonshot may not be as distant as it appears. But, as Cohen would admit, that remains a very sizeable ‘if.’
Sourse: https://www.theverge.com/report/847340/irobot-bankruptcy-reset-interview-ceo-gary-cohen
