iRobot launches strategic review to evaluate alternatives

In a regulatory filing on Wednesday, iRobot (IRBT) announced that its Board of Directors has initiated a formal strategic review to evaluate a broad range of alternatives, “including, but not limited to, exploring a potential sale or strategic transaction and refinancing our debt.” There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, the company said, adding that “Additional actions within our control to maintain our liquidity and operations include optimizing our production volumes with contract manufacturers by reducing inventory supply forecast for cancellable purchase orders, further reducing discretionary spending in all areas of the business and realigning resources through ongoing attrition without rehiring activity.”