In a dramatic financial unraveling, Renovo Home Partners, a private equity–backed roll-up of home improvement businesses, has filed for Chapter 7 bankruptcy in Delaware federal court, declaring as much as $500 million in debt across nearly 20 affiliated entities.
Once touted as a powerhouse in residential remodeling, the Dallas-based company has now joined the ranks of major private equity casualties — its empire of regional renovation firms unable to withstand mounting financial pressure.
From Home Repair Vision to Corporate Collapse
According to bankruptcy petitions filed Monday, Renovo’s units reported between $100 million and $500 million in liabilities, against a mere $1 million to $10 million in assets. The filing signals not a restructuring, but a complete liquidation — a formal end to the company’s operations.
The company was founded by Audax Private Equity in early 2022 as an ambitious platform meant to consolidate the fragmented U.S. home improvement industry. Renovo quickly acquired several regional names, including Woodbridge Home Solutions, Minnesota Rusco, and Remodel USA, building what appeared to be a thriving network of service providers across multiple states.
But behind the growth narrative, financial cracks were forming. In the petition, Renovo’s board of directors conceded that winding down operations was in the “best interests” of the company and its subsidiaries. The filings bluntly stated there would be no funds left for unsecured creditors once administrative expenses were paid.
