JKN Global Group Public Company Limited (SET: JKN) has announced that the court granted the company an extension for the submission of a business rehabilitation plan to March 4, 2025.
JKN Global Group Public Company Limited filed for business rehabilitation with the Central Bankruptcy Court in November 2023. The court accepted the petition and later appointed the company as the plan preparer. The company was required to submit a business rehabilitation plan by February 4, 2025
The company requested an extension to the deadline to submit their plan, which was granted by the court until March 4, 2025.
The company said that this extension was needed due to a shift in the company’s core business from content licensing to product and service sales. This transition involves expanding online product sales, including under the “Anne and Yaiya” and “Miss Universe” trademarks, and requires new marketing strategies.
The company is recruiting a marketing team and is negotiating with a marketing consultancy firm to support this business transformation. The marketing strategy will be a key element of the rehabilitation plan, impacting the financial projections and credibility of the debt repayment plan
Additionally, JKN noted that the request for an extension is in order to fully elaborate the business rehabilitation plan and to ensure its feasibility and benefit to creditors.
