Mike Holmes-endorsed reno company says it’s closing down, blames CBC News investigation

The closure of AGM Renovations, a home renovation company endorsed by celebrity contractor Mike Holmes, has sent shockwaves through the industry. The company’s CEO, Ivan Atanasov, cited CBC News coverage as the reason for shutting down, stating that the damage to their reputation made it financially impossible to continue operations.

CBC News published two stories on AGM this month, with one report by Marketplace focusing on celebrity-backed home projects and another investigation highlighting electrical problems. Both stories featured AGM customers who expressed dissatisfaction with the quality of work and raised concerns about Holmes’ endorsement influencing their decision to hire AGM.

In response to the investigation, two customers reported hazardous electrical work done by AGM, including the use of unlicensed electricians in violation of provincial law. AGM denied any wrongdoing but is currently under investigation by Ontario’s Electrical Safety Authority.

Holmes, whose company The Holmes Group had ties to AGM, did not comment on the situation initially. However, after CBC reached out, AGM ads featuring Holmes were removed from the internet, suggesting a possible suspension of ties between the two parties.

One homeowner, Peter Mikhail, shared his negative experience with AGM, citing damaged flooring, incorrectly installed fixtures, and unsafe electrical work in his kitchen renovation. Mikhail, along with other dissatisfied customers, has filed lawsuits against AGM and expressed concerns about the lack of recourse for those affected by the company’s closure.

Mikhail emphasized the need for regulation in the renovation industry to protect homeowners and called on Holmes to assist AGM customers in need. Despite AGM’s denial of any wrongdoing in their statement of defense, customers like Mikhail are left grappling with financial and safety concerns resulting from their interactions with the company.

The closure of AGM Renovations serves as a cautionary tale for homeowners and highlights the importance of due diligence when hiring contractors for home renovation projects. As the industry grapples with the fallout from this scandal, it is crucial for consumers to prioritize safety and quality in their renovation endeavors.