Lazydays Holdings, Inc. has executed amendments and waivers with its credit facility lender syndicate, led by M&T Bank, and its mortgage lender, an affiliate of Coliseum Capital Management, which will help enhance the company’s liquidity position and further fortify its financial foundation.
Under the terms of the transactions, Lazydays will retain approximately $14 million of proceeds resulting from the divestiture of certain non-core dealerships and associated real estate, and repay roughly $15 million in non-floor-plan indebtedness, reducing it to approximately $44 million, which will result in a decrease in interest expense.
The contributing divestitures are as follows:
- Divestiture of the dealership in Mesa, AZ, which closed on May 30, 2025.
- Divestiture of the dealership and related real estate in Fort Pierce, FL, which closed on June 6, 2025.
- Divestiture of the dealership in Longmont, CO, which closed on June 13, 2025.
- Divestiture of the dealership and related real estate in Las Vegas, NV, which the company expects to close later this week.
Ron Fleming, CEO of Lazydays, commented, “We are pleased to have reached these agreements with our lenders, which collectively provide Lazydays with a meaningfully enhanced liquidity position and greater flexibility to advance our turnaround strategy. As we continue to work towards building a more resilient company, our focus remains on revitalizing our core dealership operations while streamlining our footprint and reducing debt through the sale of non-core assets. We are thankful to our lenders for their ongoing support as we work to achieve these objectives.”
Stoel Rives LLP served as legal counsel, and Miller Buckfire, a Stifel Company, and CR3 Partners served as financial advisors to Lazydays and its Board of Directors in connection with these transactions.
Image courtesy Lazydays Holdings, Inc.
