‘Captain Cool’: MS Dhoni’s Bike Collection, Networth & Life Journey
The Thai media business that owns the Miss Universe beauty pageant brand filed for bankruptcy on Thursday, citing a liquidity problem.
JKN Global Group made the declaration in a statement to the Thai Stock Exchange two months after failing to meet a bond repayment deadline of roughly $12 million.
The company, founded by media entrepreneur and transgender rights activist Anne Jakapong Jakrajutatip, paid $20 million for the pageant, which was previously owned by former US president Donald Trump.
According to the statement, JKN’s board of directors agreed on Tuesday to file a business rehabilitation plan with the kingdom’s bankruptcy court.
“Submitting the rehabilitation petition will effectively solve the Company’s liquidity problem under the legal mechanism and provide fair protection to all stakeholders”, the statement reads.
“Operations will continue under the plan”, the statement added.
JKN’s share price has plunged about 80 percent in the last 12 months, with the stock trading at 0.77 baht on Thursday.
Also read: A possible stroke has put Apple co-founder Steve Wozniak in hospital
PM Modi, at BRICS, called for global reforms, a multipolar order, and India’s AI leadership…
PM Modi strongly criticised outdated global institutions like the UN Security Council and WTO during…
Group Captain Shubhanshu Shukla makes history as the first Indian aboard the ISS, marking a…
Union Minister Ramdas Athawale condemned MNS chief Raj Thackeray for inciting violence over language issues…
Detailed specs and pricing for Samsung’s Galaxy Watch 8 and Classic have leaked, highlighting improved…
Kareena Kapoor shared a subtle yet pointed message on Instagram, showcasing her original Kolhapuri chappals…