Miss Universe 2023 is at risk of being suspended because the new owner filed for bankruptcy, will Bui Quynh Hoa lose everything?

On the morning of November 9, Khaosod English newspaper reported that the JKN group of transgender billionaire Anne Jakrakutatip - owner of the Miss Universe contest - filed for bankruptcy to extend debt repayment.

This newspaper said JKN's shares fell sharply again, nearly 30%, on November 8. Ms. Anne then sent a letter informing the Stock Exchange of Thailand (SET) that she had filed a request to restore business operations to the Thai Bankruptcy Court.

The request to restore business operations clearly states the request to extend the debt repayment period and waive interest rates so that the company has income from business activities to repay all creditors and continue business operations. .

Additionally, the company can continue to operate while implementing a recovery plan, which is seen as a sustainable solution to the problem and generates future profits.

Anne's JKN Group began having difficulties in September when it faced a crisis because it could not repay a 609 million baht stock loan due on September 1. Ms. Anne and her sister also had to sell nearly 100 million shares worth more than 128.6 million baht.

Ms. Ann explained that the sale of JKN shares was due to forced selling due to the stock price plummeting more than 50% in two days. However, she still holds a total of 392,287,682 shares, accounting for 38% of the total shares and is still the largest shareholder.

While the ownership company is having problems, the Miss Universe 2023 contest is still taking place in El Salvador with the participation of contestants from more than 80 countries and territories around the world. The final night is scheduled to take place on November 18 (local time). Currently, beauty fans around the world are worried about the fate of the Miss Universe contest.

Fans question whether the competition will continue or will the queens have to drag their suitcases home before the finals?

Immediately, the Miss Universe organizers also spoke up about this issue by issuing a press release.

"JKN Global Group has announced plans to refinance debt and revive the business. While our operating cash flow remains intact and the company will continue to operate as planned, this is a necessary step in our growth process to ensure that our debt is paid and the company remains financially stable," the statement said.

The statement added that the Miss Universe organization is just one of JKN's many business lines, which is completely clean and continues to operate as planned.

"The Miss Universe organization is just one of our many businesses and will not be impacted but will continue to operate as scheduled. We are looking forward to three amazing pageant broadcasts this week." coming", the statement emphasized.

As for Ms. Anne, she wrote on her personal page: "No matter what, I always put the Miss Universe organization as a top priority. No matter how happy or painful, my 'universe' We (referring to Miss Universe - PV) must continue, must be great and top as a 'beauty Olympics' in the world. I will sacrifice and do everything for the success of the 'universe '. Thank you for your love and support."

In 2022, Ms. Anne and JKN Global Group became a name that caused a stir in the international beauty community when confirming that she had bought back the Miss Universe contest from IMG. After taking control of Miss Universe, Ms. Anne and JKN outlined a long-term business plan with the ambition to elevate the Miss Universe brand into a more powerful empire.

However, after a year of entering the beauty business, things did not go well for Anne.

In addition to having to file for bankruptcy, the female billionaire's reputation was affected by the scandal surrounding the sale of Miss Universe copyright when the Miss Universe Indonesia organization had a scandal of sexual harassment of contestants.

Miss Universe 2023 canceled because new owner defaulted, transgender billionaire immediately voiced rumors! Thảo Mai09:53:05 09/09/2023In recent days, the news that JKN Global Group Plc (JKN) - the company of transgender billionaire Anne Jakrakutatip is at risk of default due to the continuous decline in stock prices has attracted many people's attention.