Houlihan Lokey Advises Maurices

Houlihan Lokey is pleased to announce the successful placement of a $137.5 million senior secured credit facility for Maurices Inc. (Maurices). The financing comprised an $82.5 million ABL revolver and a $55 million FILO term loan. Proceeds from the transaction were used to fund a partial paydown of the company’s second lien indebtedness and pay transaction-related fees and expenses. The transaction closed on July 23, 2026.

Founded in 1931 and headquartered in Duluth, Minnesota, Maurices is a leading omnichannel retailer of women’s apparel and accessories with 800+ brick-and-mortar locations. The company has cultivated a beloved and enduring brand across the U.S. and Canada for nearly a century by serving its core customer in secondary and tertiary “hometown” markets. Maurices prides itself on providing a deeply personalized service in a boutique setting.

Houlihan Lokey’s Capital Solutions Group served as exclusive placement agent to Maurices, assisting the company in arranging, structuring, and negotiating the financing. Houlihan Lokey explored various financing structures across multiple investor types. As a direct result of Houlihan Lokey’s competitive process, the company’s existing lenders expanded their commitment to Maurices, re-underwriting the credit at materially improved terms. The transaction achieved the company’s primary objectives, including (i) reducing blended cost of capital, (ii) maximizing partial paydown of the Company’s second lien term loan, and (iii) negotiating flexibility for ongoing repayment of the second lien term loan.

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