Overview
- The company posted a notice that it has ceased all operations, and multiple Renovo-linked sites went offline as customers and contractors lost contact.
- No public bankruptcy or layoff filings were available as of Thursday, though a trade outlet reported an expected Chapter 7 liquidation as soon as Friday.
- Customers who prepaid face unfinished work, including one couple out $48,000, and the state labor department says recoveries may be available through the Contractor Recovery Fund after obtaining a court judgment.
- The Minnesota Department of Labor and Industry said 25 to 30 homeowners have reached out, with reimbursements capped at $100,000 per consumer and $550,000 per licensee.
- Former workers report sudden layoffs and say they were offered only three days of health insurance, while local firms such as TWS Remodeling are offering to take over contracts, including a 50% discount and help addressing a reported $15 million backlog.