BEDFORD, Mass. —
Bedford-based iRobot, which makes Roomba robotic vacuums, is considering bankruptcy after failing to find a buyer.
Earlier this year, iRobot signaled "substantial doubt" about its future. A formal strategic review was launched in March, which could have included a sale or "strategic transaction."
No such deal has materialized.
Now, the company owes far more than it can afford, according to a report filed with the SEC on Thursday. If lenders do not give the company more time, iRobot's filing indicates it will be in default on Dec. 1.
With more than $205 million owed and less than $25 million in cash, as of Sept. 27, the company's filing notes that if the company goes into default and lenders accelerate repayment obligations, iRobot would be unable to pay.
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