JKN Global Group, the company behind the Miss Universe pageant, filed for bankruptcy.
The filing comes as the pageant has allowed transgender individuals to participate in the competition among the “most beautiful women.”
“JKN Global Group Public Company Limited (the ‘Company’) has filed a petition for business rehabilitation with the Central Bankruptcy Court under the Bankruptcy Act B.E. 2483 (1940) (as amended) (the ‘Bankruptcy Act’) on November, 8 2023, the Central Bankruptcy Court has subsequently issued an order to accept the petition for business rehabilitation of the Company on November 9, 2023,” reads a document sent to the Stock Exchange of Thailand, according the New York Post.
Although the pageant is bankrupt, the 2023 competition will still be held.
Two transgender individuals are competing in the pageant: Miss Portugal, a flight attendant named Marina Machete, and Rikkie Kollé, who is Miss Netherlands.
Glamour Magazine also declared a biological male to be its “Woman of the Year.”
The magazine described Geena Rocera as a “celebrated model, author, transgender rights advocate, and film producer” who is “using her voice to fight for the rights of the voiceless.”
