Vashu Bhagnani sells Pooja Entertainment's office to repay Rs. 250 cr after failure of Badhe Mia Chote Mia, Bell Bottom

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Business News/ Companies / News/ Vashu Bhagnani sells Pooja Entertainment's bureau to repay Rs. 250 cr aft nonaccomplishment of Badhe Mia Chote Mia, Bell Bottom

1 min read 23 Jun 2024, 03:39 PM IST

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After giving consecutive container bureau disasters implicit the past fewer months, movie shaper Vashu Bhagnani sold Pooja Entertainment's Mumbai bureau to repay ₹250 crore debt

Indian movie shaper Vashu Bhagnani has sold his accumulation location Pooja amusement and downsized its cognition to recoup losses aft astir of his movies, including Badhe Miya Chote Miya, Bell Bottom, failed to execute good connected container office.

Known for giving iconic movies similar Biwi No. 1, movie shaper Vashu Bhagnani sold his accumulation location Pooja Entertainment's Mumbai bureau to repay indebtedness worthy ₹250 crore, reported Bollywood Hungama, citing manufacture sources. The accumulation house, owned by Vashu and Jackky Bhagnani, is besides downsizing its cognition station consecutive Box Office failures of its Badhe Mia Chote Mia, Bell Bottom, Ganapath, Mission Raniganj, etc.

Layoffs astatine Pooja Entertainment

According to the quality report, Vashu Bhagnani had downsized the accumulation house's workforce to recuperate the losses. The movie shaper had sacked astir 80% of employees and shifted Pooja Entertainment's bureau to a two-bedroom level successful Mumbai, reported Bollywood Hungama. The simplification successful workforce began successful January this twelvemonth aft a movie featuring Tiger Shroff was shelved pursuing a two-year conflict to merchandise connected metallic screens.

The institution faced different setback aft its 2nd movie, Badhe Miya Chote Miya, failed miserably astatine the container office. The movie hardly managed to gain ₹59.17 crore. However, the film, which featured Akshay Kumar and Tiger Shroff, was made with an concern of ₹350 crores. Amid fiscal woes, Vashu sold the company's Mumbai bureau to wage disconnected debts to aggregate financiers. The accumulation location banner, operated by Vashu Bhagnani and his lad Jacky Bhagnani, is besides reducing its operations aft back-to-back failures of its movies.

Pooja Entertainment unit members kick of non-payment

Earlier, the accumulation location came nether occurrence aft respective unit members claimed of not clearing their payments connected time. Many unit members took to Instagram to stock their experiences.

Will Pooja Entertainment unopen down?

Earlier, unit members were reported to person expressed interest implicit the unpaid dues by the Pooja Entertainment accumulation house. Despite aggregate fiscal hardships, Vashu Bhagnani and lad Jacky Bhagnani are successful nary temper to adjacent the three-decade-old accumulation house. The father-son duo are determined to reboot operations, moreover they person already begun preparations for their accumulation house's upcoming projects, reported Bollywood Hungama. Moreover, they are besides readying to spell up with Shahid Kapoor's Ashwatthama project.

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Published: 23 Jun 2024, 03:39 PM IST