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JKN Global Group CEO, Anne Jakapong Jakrajutatip.

PHOTO BY ARCHIVE


Miss Universe owner files for bankruptcy

The Thai owner of Miss Universe has filed for bankruptcy a year after buying the world-famous pageant for $20 million.

JKN Global Group’s CEO, Anne Jakapong Jakrajutatip, said the company is seeking to resolve a “liquidity problem” and wants to restructure.

“The company can continue its operation while being under the rehabilitation plan,” according to JKN. The Thai Bankruptcy Court has set the hearing date for the petition for a business rehabilitation on January 29.

The company missed a repayment deadline of $12 million on September 1. In the last year, JKN’s share price has fallen by more than 80 percent.

The Miss Universe Organization was co-owned by Donald Trump from 1996 to 2015, before it was sold to US talent agency WME-IMG.

Under the ownership of Thailand’s JKN, the pageant has allowed mothers and married women to participate in the contest. It will also feature at least two transwomen for the first time. ICA/Expat Media


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