Shares of iRobot Corporation (Nasdaq: IRBT), maker of the Roomba autonomous vacuum cleaner, are crashing today after the company announced that it will seek Chapter 11 bankruptcy protection.

As of this writing, IRBT shares are down more than 78%—and the news is only expected to get worse for common shareholders. Consumers, on the other hand, may be wondering if their Roombas will stop working. Here’s what you need to know.

On Sunday, iRobot Corporation said it has filed for bankruptcy. The Massachusetts-based company is seeking Chapter 11 protection in the District of Delaware.

As part of the process, iRobot has entered into a Restructuring Support Agreement (RSA) with the Chinese company that manufactures its Roomba vacuum cleaners and other products, Picea Robotics.

iRobot was founded in 1990 and was one of the most prominent American companies to popularize household robotics among consumers. Its Roomba vacuum cleaner took households by storm when the product was first released in 2002.

But in the decades since, iRobot has faced heavy competition from other robotic vacuum companies, many of which have released cheaper, superior products in recent years.

Still, iRobot enjoyed........

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