The Thai owner of the Miss Universe pageant, which was once part of former US president Donald Trump’s business empire, has filed for bankruptcy a year after buying it for $20m (£16.4m).
JKN Global Group has said it would try to resolve a “liquidity problem”.
Its chief executive officer, Anne Jakapong Jakrajutatip, is a transgender woman whose purchase came as the pageant became more inclusive.
Its chief executive officer, Anne Jakapong Jakrajutatip, is a transgender woman whose purchase came as the pageant became more inclusive.
“The company can continue its operation while being under the rehabilitation plan,” JKN said.
Funding for the deal was raised through bonds but the firm missed a repayment deadline of around $12m which was due on 1 September.
In the past year, JKN’s share price has fallen by more than 80%.
The Thai Bankruptcy Court has set the hearing date for the petition for business rehabilitation on 29 January, according to the firm.
Under the ownership of JKN, the pageant has allowed mothers and married women to participate in the contest from this year.
The Thai owner of the Miss Universe pageant, which was once part of former US president Donald Trump’s business empire, has filed for bankruptcy a year after buying it for $20m (£16.4m).
Its chief executive officer, Anne Jakapong Jakrajutatip, is a transgender woman whose purchase came as the pageant became more inclusive.
JKN Global Group has said it would try to resolve a “liquidity problem”.
“The company can continue its operation while being under the rehabilitation plan,” JKN said.
Its chief executive officer, Anne Jakapong Jakrajutatip, is a transgender woman whose purchase came as the pageant became more inclusive.
Its chief executive officer, Anne Jakapong Jakrajutatip, is a transgender woman whose purchase came as the pageant became more inclusive.
“The company can continue its operation while being under the rehabilitation plan,” JKN said.
Funding for the deal was raised through bonds but the firm missed a repayment deadline of around $12m which was due on 1 September.
In the past year, JKN’s share price has fallen by more than 80%.
The Thai Bankruptcy Court has set the hearing date for the petition for business rehabilitation on 29 January, according to the firm.
Under the ownership of JKN, the pageant has allowed mothers and married women to participate in the contest from this year.
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