Publicly-held Camping World Holdings, as reported on several stocks-oriented news outlets, on Monday filed a notice with the Securities and Exchange Commission (SEC) that it will “exit and restructure operations of its indirect subsidiary, Active Sports.”
According to the filing, a review of underperforming assets conducted by management concluded with a recommendation to exit the business in early March. The company now plans to implement this recommendation.
“These plans, when completed, will result in the liquidation of primarily all of its assets and closure of the Active Sports business and are anticipated to result in the impairment of certain long-lived assets associated with the Active Sports business,” read the filing, as quoted by Seeking Alpha. “The company currently estimates the total impairment charges associated with these restructuring activities to be between $11 million and $16 million which includes property and equipment, operating lease assets and intangibles.”
According to Canadian media, the shutdown of some warehouse and retail operations north of the border are already underway.
While Camping World’s stock enjoyed a sharp rise during the pandemic, shares of the Illinois-based outdoor products and RV retailer have fallen more than 20% in the past year.
