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Lazydays files for bankruptcy protection in prepackaged deal

Staff file photo (2008)

The park at Lazydays RV Supercenter was lightly populated last fall because of high fuel prices.

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By MICHAEL SASSO | The Tampa Tribune

Published: November 6, 2009

TAMPA - Lazydays RV Supercenter made good on its plan to enter into bankruptcy this week, filing for Chapter 11 protection from creditors in Delaware Thursday.

On a Web site created to discuss the bankruptcy, www.betterlazydays.com, Chief Executive Officer John Horton announced the company had filed a prepackaged Chapter 11 case with the support of its lenders and bondholders. The company expects to exit bankruptcy quickly and stay open throughout the process, Horton said in a prepared statement.

Lazydays first revealed in September that it planned to seek bankruptcy protection to restructure some of its debts. At that time, the company said it hoped filing bankruptcy would allow it to eliminate $137 million in debt and free it from having to pay more than $16 million in annual interest payments.

Lazydays has had to lay off some 235 employees over the last two years and currently employs around 450. It was founded by Don Wallace and his family members, but Wallace no longer has an ownership stake in the dealership.

Reporter Michael Sasso can be reached at (813) 259-7865.

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