iRobot, the pioneering company behind the Roomba smart vacuum cleaner, has filed for bankruptcy protection in the United States as it struggles to navigate a challenging global market.
The filing, made under a pre-packaged Chapter 11 process, will see Shenzhen-based Picea Robotics—iRobot’s primary manufacturing partner—take over ownership of the company. This strategic move comes after iRobot faced mounting competition from Chinese brands and was hit hard by rising tariffs.
According to court documents filed Sunday, iRobot was forced to slash prices and ramp up investment in innovation to stay competitive. However, U.S. tariffs of 46% on imports from Vietnam—where most of its devices for the American market are produced—added $23 million to its costs this year alone.
Once valued at $3.56 billion during the pandemic-driven boom in home automation, iRobot’s market value has plummeted to around $140 million. The company’s shares dropped more than 13% on the Nasdaq last Friday.
Despite the financial turbulence, iRobot has assured customers that its mobile app, product support, and supply chains will continue to operate without disruption.
Founded in 1990 by three MIT Artificial Intelligence Lab alumni, iRobot initially focused on defense and space robotics before launching the Roomba in 2002. The Roomba quickly became a household name, capturing 42% of the U.S. and 65% of the Japanese robotic vacuum market.
A proposed $1.7 billion acquisition by Amazon was blocked last year by the European Union’s competition authority, further complicating iRobot’s path forward.
Category Archives: Financial
Groupe Brandt Liquidated After Rescue Plan Fails: A Stark Warning for European Appliance Manufacturing
The curtain has fallen on one of France’s most iconic appliance manufacturers. On Thursday, December 11, the Nanterre Commercial Court ordered the liquidation of Groupe Brandt, marking the end of a months-long effort to save the company through an employee-led cooperative. The decision spells the loss of approximately 700 jobs and halts production of legacy brands including Brandt, De Dietrich, Sauter, and Vedette.
This outcome underscores a broader and troubling trend: the continued erosion of European-based appliance manufacturing in the face of global competition, financial fragility, and investor hesitancy.
A Last-Ditch Effort That Fell Short
The final hope for Groupe Brandt rested on a bold proposal—a Scop (Société coopérative et participative), or employee cooperative, backed by Groupe Revive and entrepreneur Cédric Meston, co-founder of plant-based food brand HappyVore. The plan aimed to preserve local jobs and maintain production in the historic Loiret and Loir-et-Cher regions by turning employees into co-owners.
Despite strong political and regional support, including €17 million in public funding from the French state, Centre-Val de Loire region, and the city of Orléans, the plan ultimately collapsed. The court deemed the proposal financially unviable, citing a shortfall of €3–8 million that banks refused to cover.
Political Will Meets Financial Reality
The rescue effort drew unprecedented political attention. Industry Minister Sébastien Martin pledged €5 million in state aid, while regional leaders rallied to raise additional funds. Yet, even with this show of unity, the private sector’s reluctance to assume risk proved decisive.
With no viable path to cover the remaining funding gap—and no means to pay salaries beyond December 15—the court had little choice but to proceed with liquidation.
What This Means for the Industry
Groupe Brandt’s collapse is more than a corporate failure—it’s a symbolic blow to the European white goods sector. Once a pillar of French industrial pride, Brandt’s demise highlights the vulnerability of legacy manufacturers in a capital-intensive, globally competitive market.
For industry watchers, the case raises urgent questions:
– Can cooperative ownership models realistically rescue distressed manufacturers?
– What role should public funding play in safeguarding industrial heritage?
– And how can Europe retain its foothold in appliance production amid mounting global pressures?
As the dust settles, one thing is clear: the Brandt story will resonate far beyond France’s borders.
Whirlpool Invests R$3 Million in Advanced Training Hub in Brazil
Whirlpool is investing R$3 million in a new advanced manufacturing training center at its Rio Claro plant in São Paulo, where it produces washers, stoves, ovens, and cooktops.
The “Factory of the Future” aims to deliver 6,000 hours of annual training through 2030 for employees and students from São Paulo State’s technical colleges (Fatecs), with the goal of boosting local manufacturing productivity by 50%.
Whirlpool employs 12,000 people in Brazil, including 3,000 in Rio Claro, and operates additional plants in Manaus and Joinville. Over the past five years, the company has invested R$1.3 billion in Brazil and $4 billion globally in R&D and capital expenditures. Currently, 97% of its products sold in Brazil are manufactured locally.
Middleby to Sell 51% Stake in Residential Kitchen Business to 26North in Transaction Valuing the Business at $885 Million
The Middleby Corporation (NASDAQ: MIDD) has agreed to sell a 51% stake in its Residential Kitchen business to affiliates of 26North Partners LP, valuing the unit at $885 million. Middleby will retain a 49% non-controlling interest in the new joint venture, receiving approximately $540 million in cash and a $135 million seller note.
The Residential Kitchen portfolio includes premium brands such as Viking, AGA Rangemaster, La Cornue, Kamado Joe, Marvel, Novy, and U-Line. This move, alongside the planned spin-off of Middleby’s Food Processing segment in H1 2026, advances the company’s strategy to become a pure-play commercial foodservice leader.
With a sharpened focus, Middleby is positioned for accelerated growth through innovation and automation, offering a robust lineup of commercial kitchen solutions that enhance labor efficiency, reduce food costs, and expand into high-potential markets like ice and beverage.
The commercial foodservice business stands strong with 2024 revenue of $2.38 billion, $654 million in Adjusted EBITDA, and a margin exceeding 27%
Whirlpool Reshapes Global Footprint: Reduces Stake in India, Halts Production in Argentina
Whirlpool Corporation is recalibrating its international operations with two major moves in India and Argentina, signaling a shift in its global appliance strategy.
📉 Stake in Whirlpool India Drops to 40%
On November 27, Whirlpool Corporation announced it had reduced its ownership in Whirlpool of India Limited from 51% to approximately 40%. The change follows the sale of 14.26 million equity shares by its wholly owned subsidiary, Whirlpool Mauritius Limited, in an on-market transaction.
While Whirlpool retains a significant minority stake, the move suggests a strategic realignment in one of Asia’s fastest-growing appliance markets. Whirlpool India remains a key player in refrigeration, laundry, and kitchen appliances, with a strong retail and service network across the subcontinent.
🛑 Production Ceases at Argentina’s Pilar Laundry Plant
Just a day earlier, on November 26, Whirlpool Argentina announced it will cease manufacturing operations at its Pilar Laundry Plant. Opened in 2022 with a $52 million investment, the facility was designed to produce 300,000 high-capacity washing machines annually and aimed to become Argentina’s largest appliance exporter—primarily serving Latin American markets like Brazil.
Despite the shutdown, Whirlpool confirmed it will maintain its commercial and after-sales service operations in Argentina, ensuring continued availability of products, accessories, and spare parts. The company emphasized its long-standing presence in the country, where it has operated for over 35 years.
Krupps Joins TNK Group in €75M Deal to Boost Global Growth
Italian dishwasher specialist Krupps has been acquired by Padua-based TNK Group, forming a €75 million business. This marks the end of Krupps’ family ownership since its founding by Antonio Scanavin in 1965.
The move aligns Krupps with TNK’s portfolio—which includes Coldline, Modular Professional, Nevo, and Tuls—and aims to expand its global footprint. CEO Enrico Scanavin said the deal preserves Krupps’ heritage while accelerating its international growth and integration into a broader professional kitchen ecosystem.
Krupps currently exports to over 70 countries, with 60% of its revenue coming from outside Italy.
Midea Group Sees Slower Profit Growth in Q3 Despite Strong Year-to-Date Performance
Chinese home appliance leader Midea Group posted a 9% rise in third-quarter net profit, reaching 11.9 billion yuan (€1.44 billion), while revenue climbed 10% year-on-year to 111.9 billion yuan (€13.6 billion). Although still positive, the pace of growth slowed compared to the previous quarter.
For the first nine months of the year, Midea reported a robust net profit of 37.9 billion yuan (€4.6 billion), up 20% from the same period last year. Revenue rose 14% to 363.1 billion yuan (€44 billion). The Foshan-based company had previously recorded even stronger gains in the first half, with net profit surging 25% and revenue growing 16%
Appaloosa Doubles Down on Whirlpool Amid Slump
Appaloosa Capital has boosted its stake in Whirlpool to 5.5 million shares, now owning 9.8% of the company. Despite Whirlpool’s stock plunging 40% since July—hitting a 5½-year low—David Tepper’s move sparked a modest rebound, marking the first weekly gain in three weeks.
Whirlpool continues to face pressure from weak U.S. sales, shrinking margins, and rising debt, prompting a 48.6% dividend cut in July. Tepper’s bet suggests confidence in a turnaround, even as headwinds persist.
B&B Trends Acquires Ardes: A Bold Move in Europe’s SDA Market
At WhitegoodsNow, we’re always tracking the moves that shape the future of the appliance industry—and this one’s a big deal. B&B Trends has officially acquired Ardes, a respected Italian brand with deep roots in small domestic appliances. It’s a strategic play that not only strengthens B&B’s footprint in Italy but also signals a broader acceleration of their European growth.
🔍 Why Ardes Matters
Ardes isn’t just another name in the market—it’s a legacy brand trusted by millions of Italian households. Known for blending functionality with timeless design, Ardes brings decades of expertise to the table. This acquisition gives B&B Trends access to a rich product portfolio and a loyal customer base, while reinforcing their commitment to innovation that enhances everyday life at home.
🌍 What It Means for the Sector
This move reflects a growing trend: consolidation with purpose. By integrating heritage brands like Ardes, B&B Trends is positioning itself as a pan-European powerhouse in the SDA (small domestic appliance) space. Expect to see more cross-market launches, smarter product development, and a renewed focus on lifestyle-driven design.
🧠 Our Take
For industry watchers, this is more than a headline—it’s a signal of where the market is heading. Legacy meets agility. Tradition meets tech. And consumers stand to benefit from a new wave of appliances that are both intuitive and inspired.
We’ll be keeping a close eye on how this partnership evolves—and what it means for innovation, sustainability, and competition across Europe
LG’s profits rise, but sales decline in Q3
LG Electronics today announced its global financial results for the third quarter of 2025, reporting consolidated revenue of €13.2 billion and operating profit of €420 million. In the third quarter of 2024, sales were €14.76 billion. However, profit was significantly lower: in euros, it was only €50 million.
The Home Appliance Solution (HS) and Vehicle Solution (VS) divisions posted particularly strong performances, despite external challenges posed by U.S. tariffs and the slowdown in the electric vehicle market. The results reflect the ongoing transformation of LG’s business portfolio and commitment to qualitative growth, which includes B2B solutions such as vehicle and HVAC systems, the expansion of non-hardware businesses such as subscription services and the webOS platform and new direct-to-consumer business models.LG Home Appliance Solution (HS) Company
The HS division posted revenues equivalent to €4 billion and an operating profit of €220 million. This division also reported a decline in sales, which had been 8,340 billion won compared to 6,580 billion won in 2025, and profits fell from 527 billion to 366 billion won. Optimization of production sites and improved operational efficiency largely absorbed the impact of the U.S. tariffs, ensuring higher profitability than the previous year.
For the fourth quarter, the global home appliances market remains challenging, with demand recovery still weak and competition increasing. The division aims to continue expanding its subscription and digital businesses, strengthen qualitative growth, and improve profitability through cost review and fixed expense reduction
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