LAZYDAYS TO SELL THREE STORE LOCATIONS TO GENERAL RV CENTER
Strategic divestiture further streamlines Lazydays' operational footprint
TAMPA, Fla., March 31, 2025 /PRNewswire/ -- Lazydays Holdings, Inc. (NASDAQCM: GORV) ("Lazydays" or the "Company") announced today that it has signed a letter of intent (the "LOI") to divest three store locations to General RV Center ("General RV"). The LOI is generally nonbinding, with the exception of a 75-day exclusivity provision relating to the three stores. The stores are located in Ft. Pierce, Florida, Longmont, Colorado, and Mesa, Arizona. The divestiture of the stores is expected to be finalized within 75 days.
Ron Fleming, Interim CEO of Lazydays, said, "As we continue to evaluate and streamline our dealership footprint to maximize shareholder value, we made the decision to strategically divest three stores from our portfolio. We expect this transaction to add meaningful cash to our balance sheet, reduce our indebtedness and decrease geographical redundancy in our footprint, while allowing Lazydays to continue our operational improvements among a more focused dealership network. General RV Center is an established dealership operator that closely aligns with our brand, employee, and facility standards, and we are confident the company will serve as a strong steward for these stores going forward."
General RV CEO, Loren Baidas, added, "We are pleased to partner with a well-established dealership like Lazydays to expand our reach and enhance opportunities for RV enthusiasts in key markets. Entering Arizona and Colorado aligns with our growth strategy, building on the strong performance of our Utah locations and our deep experience in Florida, where we operate seven dealerships. This collaboration strengthens our presence and benefits customers in these regions. We are thrilled to have these three locations join the General RV family of dealerships."
About Lazydays
Lazydays has been a prominent player in the RV industry since our inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Our commitment to excellence has led to enduring relationships with RVers and their families who rely on us for all of their RV needs.
Our wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you're a seasoned RVer or just starting your adventure, our dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.
Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker "GORV."
About General RV
Founded in Michigan in 1962, General RV Center is the nation's premier RV dealer. The company operates 21 full-service dealerships in Michigan, Illinois, Ohio, Virginia, Florida, Utah, North Carolina and Pennsylvania. Each location offers the largest selection of RVs for sale, state-of-the-art RV service facilities and retail RV parts and accessories. Visit GeneralRV.com for more information.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future financing transactions and business strategy, and often contain words such as "project," "outlook," "expect," "anticipate," "intend," "plan," "believe," "estimate," "may," "seek," "would," "should," "likely," "goal," "strategy," "future," "maintain," "continue," "remain," "target" or "will" and similar references to future periods. Examples of forward-looking statements in this press release include, among others, the benefits of the potential transaction described herein and the future financial performance of the Company following such transaction.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual results to differ materially from estimated or projected results include, without limitation, the ability of the parties to successfully negotiate and enter into a definitive agreement for the transaction described herein and the terms and conditions thereof, termination of the LOI or its exclusivity, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including our ability to obtain further waivers or amendments to credit agreements, the actions or inactions of our lenders, available borrowing capacity, our compliance with financial covenants and our ability to refinance or repay indebtedness on terms acceptable to us), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout under the headers "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and in the notes to our financial statements, in our most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and from time to time in our other filings with the U.S. Securities and Exchange Commission. We urge you to carefully consider this information and not place undue reliance on forward-looking statements. We undertake no duty to update our forward-looking statements, which are made as of the date of this release.
Contact
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SOURCE Lazydays RV