In a regulatory filing, Camping World Holdings said it plans to “exit and restructure operations of its indirect subsidiary, Active Sports,” which includes its retail store and warehouse in Little Canada, a suburb of Minneapolis-St. Paul, MN, as well as the The-House.com website.
The closures impact about 90 workers, according to a report by Star-Tribune.
According to the regulatory 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,” the filing explained. “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.”
Camping World acquired Active Sports and its online component The-House.com in August 2017. The-House website is currently holding a liquidation sale.
