Miss Universe owner files for bankruptcy in Thailand

File photo : Thai businesswoman and owner of Miss Universe pageant Anne Jakkaphong Jakrajutatip//AFP

The Thai media company that owns the Miss Universe beauty pageant brand said on Thursday it has filed for bankruptcy while it tries to resolve a “liquidity problem”.

JKN Global Group made the announcement in a statement to the Thai Stock Exchange two months after it missed a deadline to repay bonds worth around $12 million.

The company, owned by media mogul and transgender rights campaigner Anne Jakapong Jakrajutatip, bought the pageant — previously owned by former US president Donald Trump — in 2022 for $20 million.

JKN’s statement said its board of directors agreed on Tuesday to submit a business rehabilitation plan to the kingdom’s bankruptcy court.

“Submitting the rehabilitation petition will effectively solve the Company’s liquidity problem under legal…