Lazydays is a U.S. RV dealership chain operating 22 locations across 13 states, with a flagship ~126-acre store near Tampa, Florida that management claims is the world's largest RV dealership by on-site inventory. Lazydays' core business is buying and selling new and pre-owned RVs, ranging from entry-level travel trailers to high-end motorized Class A diesel coaches, sold directly to consumers through its dealership network. Revenue comes from four streams: new RV sales (the largest), pre-owned RV sales, finance and insurance (F&I) fees, and service, parts, and accessories. Lazydays represents over 30 OEM brands, with towable units (travel trailers and fifth wheels) now representing over 77% of new inventory. F&I — where Lazydays arranges third-party financing and extended service contracts, earning a fee per unit — is a high-margin stream with roughly 73% finance penetration. Service operations span over 400 bays across the network, generating ~60% gross margins. Profitability is driven by unit volumes, gross profit per unit, F&I attachment, and SG&A leverage against a largely fixed cost base. The business is deeply cyclical and capital-intensive, with new inventory financed via floor plan credit lines. Lazydays entered 2025 in financial distress following an ill-timed 2023 expansion and a post-COVID demand downturn, prompting dealership divestitures, a $30M equity raise, capital structure simplification, and significant cost cuts targeting over $25M in annualized SG&A savings.