No more Miss Universe contests? Trans Thai Owner's company files for bankruptcy
Business tycoon and transgender activist Anne Jakrajutatip of the JKN Global Group bought the Miss Universe organization for $20 million in 2022.-
The global fashion industry went into shock after the Thai Owner of the Miss Universe pageant filed for bankruptcy. Anne Jakapong Jakrajutatip is a transgender woman who bought the Miss Universe as the pageant became more inclusive. Miss Universe 2023 grabbed the headlines due to the inclusion of trans women in the contest as well. As per reports, Anne Jakapong's company JKN Global Group filed for bankruptcy sparking queries on the future of the contest. However, despite JKN Global Group filing for bankruptcy, reports suggest that Miss Universe 2023 will take place this Saturday.
For the unversed, business tycoon and transgender activist Anne Jakrajutatip of the JKN Global Group bought the organization for $20 million in 2022. Jakrajutatip, who has international fame as a transgender celebrity, described the purchase at the time as "a strong, strategic addition to our portfolio."
What did the JKN Global Group bankruptcy document say?
Talking about JKN Global Group's bankruptcy reason, a US media report cited a public document sent to the Stock Exchange of Thailand from JKN Global Group. In its document, Anne's company said, "JKN Global Group Public Company Limited (the ‘Company’) has filed a petition for business rehabilitation with the Central Bankruptcy Court under the Bankruptcy Act B.E. 2483 (1940) (as amended) (the ‘Bankruptcy Act’) on November, 8 2023, the Central Bankruptcy Court has subsequently issued an order to accept the petition for business rehabilitation of the Company on November 9, 2023."
Miss Universe in its official statement said, "We confirm that Miss Universe 2023 will be held in El Salvador on 18 November 2023, where a top notch experience provided to our fans will remain our top priorities." [sic]