Trans owner of Miss Universe files for bankruptcy days before pageant: ‘You love to see it’

“Go woke, go broke.”

It’s a lesson even beauty “queens” have to learn.

Just days before the new Miss Universe is set to be crowned, the transgender owner of the pageant, Anne Jakkaphong Jakrajutatip, announced the show will go on despite the fact that her Thai company, JKN Global Group, has been forced to file for bankruptcy.

After Jakrajutatip bought the Miss Universe Organization for $20 million in 2022, amid alleged cheating and sexual harassment scandals, the biological male declared, “from now on [the pageant] is going to be ran by women.”

Since then, two men who identify as women have made the Miss Universe cut — Portugal’s Marina Machete and Netherlands’ Rikkie Kollé.

“Turned out people did not like dudes winning their beauty pageants,” one X user wrote of the bankruptcy.

According to its website, JKN Global Group “recently announced its strategic corporate financial management plan to cope with the current financial situation.”

“We are confident that the new plan will support all of the company’s business operations, including Miss Universe,” it said.

Miss Universe 2023, to be held in El Salvador on November 18th, will provide fans with “a top notch experience,” the company vowed. “We reaffirm that the legacy of Miss Universe will be carried on by JKN Global Group as envisioned from the beginning.”

On X,  Jakrajutatip explained that “Bankruptcy simply means your business is gone, but BUSINESS REHABILITATION program means JKN aims to preserve the continuity and integrity of the businesses, allowing JKN to generate improved returns for creditors and investors through restructuring efforts.”

According to CNN, JKN “missed a loan repayment deadline of around $12 million that was due September 1.”

“In its filing, the company said it planned to restructure its debt and extend the repayment period to overcome what it called a ‘liquidity problem,'” the outlet reports.

Back on X, the need for JKN’s “rehabilitation” surprised few. Indeed, many users are cheering.

One user suggested Miss Universe needs more than a financial rehab, given its current direction.

“Should they even call it Miss Universe anymore? Seems very binary and hurtful,” the user reasoned. “Shouldn’t it Them Universe, or They Universe?”



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