The Owner of Miss Universe Filed For Bankruptcy

The proprietor of the Miss Universe pageant, JKN Global Group, a Thai company that acquired it for $20 million a year ago, has declared bankruptcy, citing a "liquidity problem."

The declaration was communicated via a statement to the Thai Stock Exchange on November 9. Despite the Thai company's bankruptcy filing, the upcoming 72nd Miss will proceed as scheduled.

In a statement published on JKN's website, the firm reaffirmed that providing a “top-notch experience” to Miss Universe fans “will remain a top priority” ahead of the finale on 18th Nov. 

In 2022, JKN Global Group, led by media mogul and transgender rights advocate Anne Jakapong Jakrajutatip, purchased the Miss Universe brand for $20 million, from former US President Donald Trump.

As of June 30, financial filings show that JKN reported total liabilities of around 7.4 billion baht (US$209 million), with almost half of the amount owed to bond investors.

The company's stock dropped by the daily limit of 30 percent to a record low of 0.76 baht (US$0.02), representing an 81 percent decline for the year.

On November 18, almost 90 women will vie for the Miss Universe crown at this year's final in El Salvador. In a historic move, the pageant will include two trans women.