NEW HOPE, Minn. (FOX 9) - Minnesota Rusco is filing for bankruptcy after it closed its doors without warning in late October, with some customers filing their own lawsuits over unfinished home improvement projects.

READ MORE: Remodeling company Minnesota Rusco closes, leaving employees and customers hanging

The home improvement company was known for its advertisement jingle and was part of the Minnesota business community for the past 70 years.

Minnesota Rusco files for bankruptcy

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A Chapter 7 bankruptcy filing means that the company will have to sell its assets to pay off its debt.

READ MORE: Rusco employees 'blindsided' by sudden closure after 70 years in business

However, court documents show the company's overall debt is estimated to $100 million and $

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