JKNThe Thai owner of the Miss Universe pageant, which was once part of former US president Donald Trump’s business empire, has filed for bankruptcy a year after buying it for $20m (£16.4m).
JKN Global Group has said it would try to resolve a “liquidity problem”.
Its chief executive, Anne Jakapong Jakrajutatip, is a transgender woman who bought the firm as the pageant became more inclusive.
But the firm has loaded up on debt which it is seeking to restructure.
“The company can continue its operation while being under the rehabilitation plan,” JKN said.
Funding for the deal was raised through bonds but the firm missed a repayment deadline of around $12m which was…
