NEW HOPE, Minn. — A high-profile home improvement company known for its constant TV ads and memorable jingle has filed for bankruptcy, citing $100-500 million in debt.

The parent company of New Hope-based Minnesota Rusco filed paperwork in the U.S. District Court in Delaware. The documents show Minnesota Rusco and 18 other Renovo home improvement entities across the country filed for bankruptcy under Chapter 7 , commonly known as "liquidation bankruptcy." It allows a business that cannot repay its debts to eliminate those debts by liquidating non-exempt assets and using the funds to pay off creditors.

Court documents claim Minnesota Rusco and Renovo's other home improvement holdings have less than $10 million in assets, while carrying between $100 million and $500 million in liabilitie

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