The insolvent construction-tech startup has amassed debts with at least 52 creditors, plus employees, according to a document filed under the Bankruptcy and Insolvency Act Friday. Investissement Québec, the investment arm of the Quebec government, is the largest listed creditor, with $13.9 million made up of equity and convertible notes, spokesperson Isabelle Fontaine told The Logic. Government-backed fund BDC Capital, which first invested in 2021, is owed about $8.4 million. BDC spokesperson Jean Philippe Nadeau said it’s been “working in active collaboration with other investment partners to support the business through its financing needs.” (The Logic)

Talking point: The debt is likely an underestimate, with the company listing several creditors’ claims, including that of employees, as just $1. In reality, it owes each claimant at least $250. RenoRun raised a $181-million Series B in late 2021, led by U.S. private equity giant Tiger Global and Silicon Valley venture capital firm Sozo Ventures. It did not disclose how much of that round was equity versus debt. The startup’s insolvency came as a shock to many who viewed the company as an emerging tech darling. RenoRun filed for creditor protection on Monday. If it does not propose a plan to save the company within 30 days or seek an extension, it will be deemed bankrupt.