Roomba maker iRobot files for bankruptcy, pursues manufacturer buyout – Reuters
Roomba maker iRobot files for bankruptcy, pursues manufacturer buyout Reuters Read the original article here
Roomba vacuum cleaner firm iRobot files for bankruptcy
The loss-making company was valued at $3.56bn in 2021 after the pandemic helped to drive strong demand for its products. It is now valued at around $140m. On Friday, iRobot’s shares fell by more than 13% on the technology-heavy Nasdaq trading platform in New York. iRobot said the bankruptcy filing was not expected to disrupt…
NCLAT Dismisses SEBI’s Penalty Recovery Plea Against Annies Apparel, ETRetail
The NCLAT has set aside an appeal by SEBI, where the markets regulator had asked the tribunal to recover the penalty imposed by it against an entity related to the diversion of funds in the Religare Finvest matter, saying such claims cannot be filed once the liquidation process begins under IBC. There was no infirmity…
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From power broker to bankrupt: Cyrus Jirongo’s gradual fall from grace – Daily Nation
From power broker to bankrupt: Cyrus Jirongo’s gradual fall from grace Daily Nation Read the original article here
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Unsecured creditors of Mackenzie tyre company not likely to see any money – The Press
Unsecured creditors of Mackenzie tyre company not likely to see any money The Press Read the original article here
Roomba vacuum cleaner firm iRobot files for bankruptcy
The US firm behind the Roomba smart vacuum cleaner, iRobot, has filed for bankruptcy protection after facing competition from Chinese rivals and being hit by tariffs. Under the so-called pre-packaged Chapter 11 process, the main manufacturer of its devices, Shenzhen-based Picea Robotics, will take ownership of the firm. The tough commercial landscape had forced iRobot…