Minnesota Rusco files for bankruptcy, is more than $100M in debt

Minnesota Rusco filed for bankruptcy earlier this week after closing its doors last week.

RELATED: Minnesota Rusco suddenly closes after 70 years in business, leaving customers scrambling

According to the bankruptcy filing, the company had between $1 million and $10 million in assets, but was over $100 million in debt.

Three years ago, Renovo Home Partners — a Texas company backed by private equity — purchased Minnesota Rusco.

5 EYEWITNESS NEWS spoke with Diana Deems, former owner of Rusco, last week. She said there was “no indication from anyone in the company this was going to happen.” Deems also says Renovo Home Partners shut down six other big home improvement companies across the country this week without notice.
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