Li & Fung Group (00458) Nautica and Spyder brand temporary injunction application has been rejected and will appeal

Zhito Finance APP news, Li & Fung Group (00458) announced that at a hearing held in the Supreme Court of New York on July 22, 2026 (New York time), the Group's application for a temporary restraining order against the termination of the Nautica and Spyder brand franchise agreements by the licensors and related parties was rejected. The Group is preparing to appeal the rejection of their temporary restraining order application (appeal). Additionally, on July 23, 2026, ABG Group officially issued a termination notice for the related franchise agreements of Nautica and Spyder brands (effective July 23, 2026), and demanded additional franchise fees in accordance with the terms of the franchise agreements, which the Group disputes. The Group is seeking legal advice and will take appropriate action to vigorously defend its rights and legitimate interests regarding the termination of the franchise agreements, and (as part of the appeal) seek to prevent the enforcement of such termination notice pending resolution of the dispute.