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ASSETS HELD FOR SALE
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS HELD FOR SALE ASSETS HELD FOR SALE
During the fourth quarter of 2024, we entered into (i) an Asset Purchase Agreement (the “Camping World Asset Purchase Agreement”) with certain subsidiaries (the “Camping World Asset Buyers”) of Camping World Holdings, Inc. (“Camping
World”) to sell all of the assets at our facilities in Elkhart, Indiana; Surprise, Arizona; Murfreesboro, Tennessee; Sturtevant, Wisconsin; Council Bluffs, Iowa; Portland, Oregon; and Woodland, Washington (the “Camping World Asset Sales”) and (ii) a Real Estate Purchase Agreement (as amended, modified, or supplemented from time, the “Real Estate Purchase Agreement”) with a subsidiary of Camping World (together with the Camping World Asset Buyers, the “Camping World Buyers”), pursuant to which we agreed to sell certain real estate located in Elkhart, Indiana; Surprise, Arizona; and Murfreesboro, Tennessee (such transactions, together with the Camping World Asset Sales, the “Camping World Sales”). During February 2025 and March 2025, we closed on the sale of five of the facilities (Elkhart, Indiana; Surprise, Arizona; Murfreesboro, Tennessee; Sturtevant, Wisconsin; and Woodland, Washington). We received net proceeds of $113.9 million and recorded a loss of $0.5 million related to these sales during the three months ended March 31, 2025. We used the net proceeds from the Camping World Sales for repayments of $61.2 million of floor plan notes payable, repayments of $46.1 million of term loan and mortgage debt and working capital and general corporate purposes.

Camping World informed us that it elected to not consummate the Camping World Asset Sales with respect to the remaining two facilities under the Camping World Asset Purchase Agreement (Council Bluffs, Iowa; and Portland, Oregon). On March 28, 2025, we delivered written notice to Camping World to (a) exercise our remedy under Section 12.10 of the Camping World Asset Purchase Agreement for Camping World’s failure to complete such closings, namely to relieve us from any obligation to issue 9,708,737 shares of its common stock to Camping World’s subsidiary under Section 6.10 of the Camping World Asset Purchase Agreement; and (b) terminate the Camping World Asset Purchase Agreement effective on March 31, 2025, the outside date under the Camping World Asset Purchase Agreement.

During the three months ended March 31, 2025, we concluded the assets and liabilities of the Portland, Oregon; Council Bluffs, Iowa; and certain land near the previously closed Waller, Texas dealership met the held for sale criteria as of March 31, 2025. The following table presents the components of assets held for sale and liabilities related to assets held for sale as of March 31, 2025 and December 31, 2024:

(In thousands)March 31, 2025December 31, 2024
ASSETS
Current assets:
Inventories$16,049 $86,781 
Prepaid expenses and other— 88 
Current assets held for sale$16,049 $86,869 
Long-term assets:
Property and equipment, net21,115 86,420 
Operating lease assets303 10,731 
Other assets— 8 
Valuation allowance on assets held for sale(2,855)(21,412)
Long-term assets held for sale$18,563 $75,747 
LIABILITIES
Current liabilities:
Financing liability, current portion111 104 
Operating lease liability, current portion109 1,426 
Current liabilities held for sale$220 $1,530 
Long-term liabilities:
Financing liability, non-current portion13,530 13,562 
Operating lease liability, non-current portion199 9,439 
Long-term liabilities held for sale$13,729 $23,001