Overview
- An initial Delaware petition lists fewer than $10 million in assets against $100 million to $500 million in liabilities and as many as 1,000 creditors.
- The court is requiring Renovo and affiliated entities to name their 20 largest creditors this week, with full financial schedules due later this month.
- Homeowners and local contractors have filed multiple claims and lawsuits over prepaid, unfinished projects, including five‑figure deposits taken shortly before the closure.
- Minnesota’s Contractor Recovery Fund provides limited recourse that requires a court judgment and caps payments at $100,000 per consumer and $550,000 per licensed contractor.
- The company’s 2022 sale to Renovo Home Partners, a private‑equity roll‑up backed by debt now held by BlackRock, ties the collapse to a broader series of shuttered Renovo-owned remodelers.