Company's secured lender and key supplier, Picea, to acquire iRobot through court-supervised chapter 11 process.

Roomba maker iRobot filed for Chapter 11 bankruptcy Sunday and will turn over its business to a pair of Chinese companies and go private, capping a years-long fall from grace.

While iRobot is selling itself off as scrap, let's remember what actually makes a good robovac.

Robot has begun bankruptcy proceedings under which its Chinese creditors will acquire the consumer robot company and continue the brand.