Jakkaphong “Anne” Jakrajutatip, the Miss Universe owner files for bankruptcy in Thailand
Miss Universe owner Jakkaphong “Anne” Jakrajutatip files for bankruptcy which shocked a lot of pageant fans.
Shares of JKN Global Group plunged to a floor after the owner of the Miss Universe Organization Anne Jakrajutatip announced it had filed for business rehabilitation with the Central Bankruptcy Court. This is while they try to solve some liquidity problems.
According to the JKN’s statement, its board of directors agreed on Tuesday that they must 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 mechanism and provide fair protection to all stakeholders,” the statement said.
They also petitioned for the interest rates on existing debt to be adjusted and to extend the repayment period. According to the statement, the company failed to pay bond payments due to global and domestic economic challenges.
Despite the company’s financial situation, it will continue to run as planned as a “necessary step” to maintain the company’s financial health and for its debt to be repaid.
As for the Miss Universe Organization, it remains “completely clean and will continue to operate as planned”.
To recall, JKN acquired the MU organization for $20 million, or Php 1,115,880,000 based on current exchange rates, in October last year. The company also owns Miss USA and Miss Teen USA. On Instagram, Anne said the Miss Universe remains her top priority.
Meanwhile, Miss Universe 2023 will be the 72nd Miss Universe pageant which will be held at the José Adolfo Pineda Arena in San Salvador, El Salvador on November 18. The country’s representative is Michelle Dee.
71st Miss Universe R’Bonney Gabriel will be crowning her successor in this event.
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