iRobot slumps after bankruptcy filing

Shares of Roomba vacuum cleaner maker iRobot IRBT.O slip 83% to 75 cents premarket after co files for bankruptcy

Co filed for Chapter 11 protection in Delaware bankruptcy court on Sunday after raising concerns about staying in business in March

Profits have been eroded by competition from lower-priced Chinese rivals and new U.S. tariffs

According to the bankruptcy plan, co will be taken private by its primary manufacturer Picea, which will also cancel two loans IRBT owes

Amazon.com AMZN.O had once attempted to buy IRBT in a $1.4 billion deal, but the plan was abandoned last year due to regulatory roadblocks

Up to last close, IRBT is down 44.3% YTD