By Will Feuer

Camping World said it has amended its floor plan credit agreement from 2021, increasing the company's borrowing capacity by $150 million as Camping World looks to grow its store count.

The move brings the company's aggregate bowling capacity to $1.85 billion. The company, which runs a chain of recreational vehicle dealerships, said it also reset the accordion feature in the facility to allow the company the option to increase the principal amount available in $50 million increments up to a maximum amount of $300 million.

"The RV Inventory Floor Plan Facility Amendment demonstrates our lenders' confidence in Camping World and our strategic direction as we work toward our goal of increasing our store count by 50% over the next five years," Chief Executive Marcus Lemonis said.

The company has been buying up local RV dealerships across the country, and has been opening new manufacturer exclusive concept dealerships that are branded under different lines of RVs, including Jayco, Winnebago and Coachmen.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

July 21, 2023 08:05 ET (12:05 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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