Minnesota Rusco has officially filed for Chapter 7 bankruptcy, with court records revealing the New Hope-based company is at least $100 million in the red.

According to bankruptcy court records filed in Delaware this week, the company estimates they have up to $10 million in assets, just a fraction of its liabilities.

The records also detail the business has up to 1,000 creditors.

Many of those are homeowners who had paid for home renovation projects or whose projects were already underway when the company closed, and also subcontractors who worked with Minnesota Rusco.

Minnesota Rusco says it does not expect to have any money left after to pay those customers back, according to the bankruptcy filing.

The business informed staff last Tuesday of their sudden closure, leaving employees,

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