The Thai media company, JKN Global Group, which owns the Miss Universe beauty pageant license, reportedly filed for bankruptcy on November 8, 2023. The move comes less than two weeks before the Miss Universe 2023 coronation night.
Reports stated that JKN Global Group, owned by Anne Jakapong Jakrajutatip, is currently resolving a "liquidity problem." An official statement from the company was sent to the Thai Stock Exchange allegedly two months after failing to repay bonds worth around $12 million.
Along with the statement is a business rehabilitation plan, indicating that company operations will continue amid the crisis. Moreover, JKN is requesting for another payment extension. "Submitting the rehabilitation petition will effectively solve the Company's liquidity problem under legal mechanism and provide fair protection to all stakeholders," the statement said.
Anne recently bought the pageant from former United States president Donald Trump for $20 million.
Over on Instagram, Anne assured pageant fans that the Miss Universe competition is one of her biggest priorities and that she looks forward to a great competition in the coming weeks.
"I always put The Miss Universe Organization as my first priority in life. No matter how joyful or painful it’s gonna be….Our universe must go on, must be great and must stay on top as the legendary Beauty Olympics in the World!" Anne wrote.
"Miss Universe Organization, which is only one of our many business lines, is completely clean and will continue to operate as planned. We look forward to three fantastic broadcasts next week," her Instagram statement read.
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With that, Miss Universe 2023 is set to push through on November 17 in El Salvador. Contestants, including our Philippine representative, Michelle Dee, are already in El Salvador preparing for the prelims which are coming in less than a week.
