Miss Universe Pageant Owner Files for Debt Rescue in Thai Court
- JKN seeks debt-repayment extension, interest-rate adjustment
- Beauty-contest brand was bought for $20 million last year
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JKN Global Group Pcl, a Thai media company that owns the Miss Universe beauty-pageant brand, has petitioned for debt restructuring as it seeks to solve a liquidity crunch.
JKN submitted the business rehabilitation request with Thailand’s Central Bankruptcy Court on Wednesday, it said in an exchange filing. The company petitioned to adjust interest rates on existing debt and extend its debt repayment period, and proposed itself as a planner for the process.