Camping World to exit and restructure operations of Active Sports subsidiary

In a regulatory filing, Camping World disclosed that on March 1, management of the company determined to implement plans to exit and restructure operations of its indirect subsidiary, Active Sports, LLC, a specialty products retail business, as part of its review of underperforming assets and business lines and concluded that a material charge for impairment would be incurred in connection therewith. "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 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. The company expects that none of the foregoing impairment charges will directly result in future cash expenditures," the filing stated.