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Jkn Global Group

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business2 years ago•2 min saved

Miss Universe Faces Bankruptcy Amid Transgender Controversy

The owner of Miss Universe, Anne Jakrajutatip, has clarified that the company is not going through a business bankruptcy but rather a business rehabilitation, refuting rumors about its financial status. This comes after JKN Global Group, the current owner of the beauty pageant, declared bankruptcy in Thailand. JKN cited challenging market conditions and its failure to meet a loan payment deadline as reasons for the bankruptcy filing. Anne emphasized the positive changes in the pageant, including embracing diversity and breaking stereotypes.

via HOLA! USA|

#bankruptcy #business #business-rehabilitation

business2 years ago•3 min saved

Miss Universe Pageant in Jeopardy as Owner Files for Bankruptcy

Media company JKN Global Group, owner of the Miss Universe beauty pageant, has filed for bankruptcy due to a liquidity problem. Despite this, the upcoming 72nd Miss Universe pageant will proceed as scheduled. JKN Global Group plans to submit a business rehabilitation plan to the Thai bankruptcy court, seeking to adjust interest rates, extend debt repayment, and secure financial support from new investors or institutions. The company's stock has plummeted, and it currently has total liabilities of approximately $209 million.

via WION|

#bankruptcy #business #financial-crisis

business2 years ago•2 min saved

Miss Universe Pageant Owner's Bankruptcy Threatens 2023 Competition

The owner of Miss Universe, JKN Global Group, has filed for bankruptcy in Thailand, but has confirmed that the upcoming pageant will still proceed as planned. The media distribution company, which purchased the Miss Universe Organization in 2022, stated that its new financial arrangements will support all business operations, including Miss Universe. JKN aims to restructure its debt and extend the repayment period to overcome its liquidity problem. The company's bankruptcy filing does not necessarily mean it will go out of business, as many firms have used this strategy to shed debt and costs. This year's Miss Universe pageant will feature two trans women for the first time, with the winner becoming the first trans woman to wear the tiara.

via Yahoo Life|

#bankruptcy #business #financial-restructuring

business2 years ago•2 min saved

Miss Universe Pageant Owner's Bankruptcy Filing Shakes Up Beauty Industry

The owner of Miss Universe, JKN Global Group, has filed for bankruptcy in Thailand but confirmed that the upcoming pageant will proceed as planned. The media distribution company, which purchased the Miss Universe Organization in 2022, aims to restructure its debt and extend the repayment period. Despite the bankruptcy filing, JKN expressed confidence in its ability to support all business operations, including Miss Universe. The company, led by transgender rights advocate Anne Jakkaphong Jakrajutatip, intends to expand the Miss Universe Organization in Asia and release branded merchandise. This year's pageant will feature two trans women for the first time, and if either wins, they will be the first trans woman to wear the tiara.

via CNN|

#bankruptcy #business #financial-restructuring