Assistance offered to victims of bankrupt renovation company
Published Thursday, November 13, 2014 5:53PM MST Last Updated Thursday, November 13, 2014 6:56PM MST
Frustrated creditors confronted Bruce Hopkins, the owner of the bankrupt Remodelers, on Thursday afternoon at Calgary’s Danish Canadian Club demanding the completion of their renovation projects or the return of their investment.
The Remodelers, a local business which hosted a popular television home renovation program, owes millions of dollars to its clients.
A trustee informed the creditors that a full recuperation of their money was unlikely as the company has been losing approximately $80,000 a month.
Hopkins has not declared personal bankruptcy and refuses to offer his personal assets in order to pay his business debts. According to the Remodelers owner, he’s not prepared to put his wife and child on the street.
"We have a hole in the ground with a blue fence around it," explains Indra Bhullar, a Remodelers client who is out $300,000. "Every time we go by it, we get a horrid feeling."
"The substantial amount that we gave, we know that we're not going to recover a penny of that back."
While clients of the Remodelers continue to search for an end to their frustrating ordeal, Prestige Custom Millwork has developed a relief program to help finish the abandoned renovation projects.
“What we've done, ultimately, is we’ve contacted three renovation companies that are long standing partners in business with us, as well as all of our current vendors, and developed a program to financially assist these people,” said Todd Horne, Prestige Custom Millwork’s general manager. “(Funding) their cabinetry package is essentially how it started and now it’s broadened into more of a general scope to again rebuild these people’s homes and their lives and get them back on their feet.”
Horne says the business was initially helping only two clients but the program has expanded to help anyone affected by the Remodelers bankruptcy.