Minnesota Rusco is no more.
The New Hope home-remodeling brand that Minnesotans knew by its jingle – “We’re Minnesota Rusco, since 1955” – confirmed it “has ceased all operations,” according to a brief statement posted to its website.
That’s how reporter Brett Hoffland at KSTP 5 Eyewitness News framed the moment customers realized the company had shut down without warning.
He described locked doors, an empty parking lot, and a quiet phone line where a bustling office used to be.
No transition.
No notice.
Just gone.
Hoffland reported the closure hit days after rumors began to circulate. By the time the statement went up, many homeowners had already paid deposits or even paid in full.
Projects that were scheduled for weeks or months out evaporated overnight.
Customers Left in Limbo – And A Lifeline
One of those customers is Pam Henning of Blaine.
Hoffland interviewed Henning, who said she paid at signing and then paid the rest for a major bathroom remodel.
“That was all the money I had,” she told KSTP.
Work hadn’t started yet.
Now she doesn’t know when – or if – it will.
Hoffland also brought in Sean O’Neil, director of licensing and enforcement for the Minnesota Department of Labor and Industry.
O’Neil didn’t mince words about how badly the shutdown appears to have been handled.
But he also delivered the one piece of good news customers needed to hear: Minnesota’s Contractor Recovery Fund exists for exactly this scenario.
“If a licensee takes a homeowner’s money and then ghosts them – no work, no materials – that’s reimbursable,” O’Neil said.
He emphasized that only about a dozen states have a fund like this, and Minnesota’s does not draw from general fund dollars.
There is a catch: homeowners usually need a civil judgment against the licensee before applying, and they should also file complaints with DLI’s Enforcement Services.
It’s a process, not a quick fix.
But it is a real path.
Hoffland added that the Minnesota Attorney General’s Office is taking complaints and urging anyone who paid by credit card to dispute charges for services not received.
Keep your contracts, receipts, and communications. If a bankruptcy is filed later, those documents matter.
Private Equity Chain Reaction
The sudden closure wasn’t truly “out of the blue” for corporate insiders.
It was part of a wider corporate collapse, according to Dmitry Lipinskiy, the roofing contractor and industry commentator behind the Roofing Insights YouTube channel.
In his video, Lipinskiy said Renovo Home Partners – a Texas company backed by private equity – bought Minnesota Rusco in 2022.
He further claimed Renovo itself was later acquired by BlackRock in 2024 and allegedly marked “non-accrual” when returns lagged.
In his telling, that was the beginning of the end.
Lipinskiy said Renovo told employees on a Tuesday, and by Wednesday the offices were locked, phones were cut off, and social media pages vanished.
He described it as a private shutdown rather than a public bankruptcy, allowing assets to be liquidated without court supervision.
He also said this wasn’t limited to one brand.
According to Lipinskiy, Renovo shut down multiple big home-improvement companies nationwide the same week – listing Dreamstyle Remodeling, Allure Home Improvements, Reborn Cabinets, NewPro, Remodel USA, and Woodbridge Home Solutions.
Hoffland’s reporting dovetails here: former Minnesota Rusco owner Diana Deems told KSTP that Renovo closed six other companies across the country without notice.
For Minnesotans, that means the collapse was likely part of a broader portfolio decision – not a purely local failure.
“We Had No Indication This Was Coming”
The human fallout is messy.
Hoffland quoted Deems saying, “Our family is sick,” and that there was no indication from anyone in the company that the shutdown was imminent.
Lipinskiy amplified the anger coming from former leaders across the Renovo network.
He cited Jay Deems, who ran Minnesota Rusco for nearly two decades, saying it “sickens” him that a firm “with trillions in assets” would put employees on the street without notice.
He also cited Larry Chavez of Dreamstyle and Vince Nardo of Reborn Cabinets criticizing what they described as spreadsheet-first leadership that lost sight of people.
Lipinskiy added a provocative community “take” he received: if a family-run owner sells to private equity, they also sell the right to dictate how the story ends.
It’s not a popular argument with laid-off workers or stranded customers.
But it is a fair reminder that the terms of sale often include control – and control can be exercised abruptly.
My view: these moments expose a structural mismatch. Home-improvement companies sell trust and timelines to homeowners, jobs to local tradespeople, and predictable cashflows to investors.
When the investor leg wobbles, the other two feel the quake first.
What Customers Can Do Right Now
Hoffland’s report is the best practical roadmap for affected homeowners.
First, document everything – contracts, invoices, emails, texts, and proof of payment.
Second, file a complaint with the Minnesota Department of Labor and Industry and with the Attorney General’s Office.
Third, if you paid by credit card, dispute the charge for services not rendered.
Fourth, talk to a local attorney about obtaining a civil judgment, since that’s often required for the Contractor Recovery Fund.
O’Neil called this situation a “blatant violation” of contractor licensing law if the facts bear out.
That language signals the state isn’t treating this as ordinary contract noise.
Lipinskiy also urged affected homeowners to speak up and said other local contractors are already offering to finish stalled jobs or hire laid-off workers.
That matters.
Even if you pursue reimbursement, you still need a plan to secure your home, your bathroom, your windows, your roof.
In fast-moving shutdowns, the local ecosystem frequently absorbs the shock better than distant corporate decision-makers.
The Bigger Picture: When PE Meets Kitchens and Bathrooms
A recurring theme in Lipinskiy’s video is the pace and opacity of private-equity decisions.
If Renovo truly shut subsidiaries without public bankruptcy, there may be fewer court filings and public notices for customers to track.
That’s efficient from an investor perspective. It’s punishing from a household perspective.
Hoffland’s reporting added one more wrinkle: many projects were prepaid. Even if the fund or a credit-card dispute works, time is money. Contractor pricing moves with inflation and supply.
Re-bidding a job today may cost more than the contract you signed months ago.
To me, that’s why O’Neil’s reassurance is helpful but incomplete – the state can help backfill losses, but it can’t rewind the clock or reconstruct your contractor’s pipeline.
The ruination is real on both sides.
Where does this leave us?
With a hard lesson.
When legacy brands sell to consolidation platforms, customers should adopt the same due diligence mindset investors use.
Ask for escrow options on large deposits. Insist on staged payments tied to visible milestones and delivered materials. Verify the active license and bond.
And keep a paper trail like your remodel depends on it – because it might.
A Final Note on Accountability
Hoffland said KSTP reached out to Renovo Home Partners but hadn’t heard back.
Lipinskiy said he hopes big-money backers will “write a lot of checks,” suggesting deposits could be returned and assets auctioned.
That’s an optimistic take.
It could happen. But customers shouldn’t wait on hope. Follow the steps O’Neil laid out.
File the complaints.
Pursue the judgment.
Dispute the card.
Then re-plan your project with a local contractor who was not tied to the collapsed network.
Minnesota Rusco’s 70-year story ended in a single web post.
That will sting for a long time.
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Growing up in the Pacific Northwest, John developed a love for the great outdoors early on. With years of experience as a wilderness guide, he’s navigated rugged terrains and unpredictable weather patterns. John is also an avid hunter and fisherman who believes in sustainable living. His focus on practical survival skills, from building shelters to purifying water, reflects his passion for preparedness. When he’s not out in the wild, you can find him sharing his knowledge through writing, hoping to inspire others to embrace self-reliance.
