Just days before beauty queens from across the world are gearing up to compete for Miss Universe in El Salvador, the woke Thai company that purchased the franchise last year has filed for bankruptcy, according to the New York Post.
The bankruptcy comes after the Miss Universe Organization has been heavily criticized in recent years for allowing transgender contestants, or biological men, to compete against the world's "most beautiful women."
In 2022, JKN Global Group purchased the failing organization for a whopping $22,000,000. The transaction was spearheaded by Thai business tycoon Anne Jakrajutatip, who is a trans-identified male.
Jakrajutatip described the acquisition as "a strong, strategic addition to our portfolio" but bank records show that the franchise appears to be anything but steady.