The Miss America pageant's operating company has filed for bankruptcy, according to Bloomberg.

Miss America Competition LLC announced it owes an estimated $4 million on Tuesday (November 26) and is seeking protection from its creditors, according to a filing made in the United States Bankruptcy Court Souther District of Florida (West Palm Beach Division) last Friday (November 22). The most recent filing was made in response to a former manager claiming its bankruptcy was in "bad faith" and claimed the company wasn't actually facing dire financial issues.

The beauty pageant, which has been held annually since 1921, has struggled to keep the cultural relevance it once had in a post-feminist age, though the court case stems from a disagreement between Miss America Competition LLC owner Glenn Straub and former Chief Executive Officer Robin Fleming, who is making his own claims to ownership. Straub's company responded by accusing Fleming of refusing to turn over financial information and relinquish operational control when it took over.

The Miss America pageant is still scheduled to take place on between December 31, 2024 and January 5, 2025, at which point the current titleholder, Madison Marsh of Colorado will crown her successor and the court ruled that the company could continue operating its businesses while the ongoing litigation takes place.