Miss Universe owner files for bankruptcy in Thailand

[snoop1130]

 

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.

 

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

 

Full story: Thai PBS 2023-11-09

 

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[Lee65]

Not bad looking for a dude

[Chris Daley]

She looks like a corpse.

[Lucky Bones]

4 minutes ago, Chris Daley said:

She looks like a corpse.

Yup. A plastic corpse.🙃🙃

[nauseus]

The Art of The Deal.

[Mr Meeseeks]

Thai buys successful business for $20m.

 

Just over a year later the company is bankrupt owing $12m+
 

[Keep Right]

Owned by Jakkaphong Jakrajutatip, a man that pretends to be a woman. Maybe he can make a few bucks to pay off his debts by standing under a coconut tree on Beach Road.

[spermwhale]

9 hours ago, Keep Right said:

Owned by Jakkaphong Jakrajutatip, a man that pretends to be a woman. Maybe he can make a few bucks to pay off his debts by standing under a coconut tree on Beach Road.

If you feel this way, why do you even live in Thailand? They are an accepted part of society and for you to imply that they all are sex workers is disgusting. I'm sure the Thais absolutely love you, hater. Phobic much?

[PremiumLane]

10 hours ago, Keep Right said:

Owned by Jakkaphong Jakrajutatip, a man that pretends to be a woman. Maybe he can make a few bucks to pay off his debts by standing under a coconut tree on Beach Road.

 

Imagine going through life being triggered by the fact that trans people exist, you poor little snowflake 

[hotchilli]

12 hours ago, snoop1130 said:

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

Have a chat with Srettha and ask for some tips, he has the same issue.

[daveAustin]

Most comments (boomers probably) will deride the op pic; like you guys would have the chance 😂.

 

[mikebell]

1 hour ago, spermwhale said:

They are an accepted part of society

Thais deny prostitution exists whilst partaking to the full - in particular police-owned brothels.

[PremiumLane]

1 hour ago, mikebell said:

Thais deny prostitution exists whilst partaking to the full - in particular police-owned brothels.

 

Now that's what I call a non-sequitur

[lopburi3]

Another report here.

https://www.bbc.com/news/business-67376299

Edited November 10, 2023 by lopburi3

[kimamey]

14 hours ago, Mr Meeseeks said:

Thai buys successful business for $20m.

 

Just over a year later the company is bankrupt owing $12m+
 

 

Of course we don't know which part of the business is underperforming, or if they all are. It may be the the Miss Universe sector is financially sound. I don't know how well it was doing before it was sold.

[Goat]

3 hours ago, mikebell said:

Thais deny prostitution exists

Which Thais deny prostitution exists? 

All Thais, some Thais or not really any Thais?

[kingstonkid]

28 minutes ago, kimamey said:

 

Of course we don't know which part of the business is underperforming, or if they all are. It may be the the Miss Universe sector is financially sound. I don't know how well it was doing before it was sold.

 

 He might have bit off more than he could chew.    The question, though, is going to be what the sponsors and national branches are going to say.

 

The question is also how will this affect the prizes that the girls get.

 

This is a person who had a streaming service and beauty supplies that they thought would sell.  I also think that the feeling was that they could build off of the back of owning the Miss Universe.  The challenge is that the costs out way, and it is not that big a brand.

 

 

 

 

[John Drake]

JKN is overly ambitious. They not only undertook the CNBC studio work but also planned on their own extensive upgrade of studios for domestic production. Mainly, they had a profitable niche in importing Indian TV dramas as well as fare from elsewhere in SE Asia. Less productive was their attempt to export Thai programming. Anne is a formidable force, but sometimes dreams end up derailing good business decisions. It's all family owned and operated, and there apparently was nobody there able to say, "no."

Edited November 10, 2023 by John Drake