Despite the 2023 Miss Universe pageant proceeding with its inclusive stance towards transgender contestants, the JKN Global Group, the entity behind the event, has filed for bankruptcy just days before the competition.
Transgender activist and Thai business tycoon Anne Jakrajutatip, who purchased the organization for $20,000,000 in 2022, described the acquisition as a strategic addition to the portfolio. However, a year later, the franchise faces financial instability.
In a public document submitted to the Stock Exchange of Thailand, JKN Global Group announced its petition for business rehabilitation with the Central Bankruptcy Court on November 8, 2023. The court subsequently accepted the petition on November 9, 2023.
Despite these challenges, the Miss Universe Organization has assured that the 2023 pageant will proceed as planned in El Salvador on November 18, 2023.
In light of the “current financial situation,” the organization emphasizes its commitment to providing a top-notch experience for fans.
