Miss Universe Owner Files for Bankruptcy Days Before Transgender Contestants Are Set to Participate in Pageant

Published on November 15, 2023

JKN Global Group, the Thai owner of the Miss Universe pageant, has filed for bankruptcy one year after buying it for $20 million and just days ahead of the 72nd Miss Universe pageant where transgender contestants are set to take to the stage. The media company revealed the filing with a Thai bankruptcy court in a statement to the Thai Stock Exchange on Nov. 9, citing an ongoing “liquidity problem.” The company’s petition for “business rehabilitation” was accepted by Thailand’s Central Bankruptcy Court following a board decision on Nov. 7, a separate document shows. According to the filings, the media firm will seek to restructure its debt and resolve liquidity, adjust interest rates on existing debt, and extend the debt repayment period, allowing it to generate income from operations to repay all of its creditors and continue to operate its business....

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