Vashu Bhagnani, founder of the production house Pooja Entertainment, has reportedly sold their company's seven-storey office. Not just that, 80% of the company's staff have also been laid off after a series of box office failures, with the last one being Akshay Kumar and Tiger Shroff starrer . The production house behind blockbusters such as and is currently facing a critical financial crisis, with reported debts amounting to Rs 250 crore.
As per the latest reports, the recent setbacks have led to 80% of the staff being laid off starting from January 2024. The main office of the production company in Mumbai's Juhu has now been downsized to a two-bedroom flat. The already existing financial troubles only increased after the recent failure of , which was reportedly made at a budget of Rs 350 crore but managed to mint only Rs 110 crore worldwide, making it a box office disaster.
A source told Bollywood Hungama that Pooja Entertainment's financial problems began with the failure of Akshay Kumar starrer in 2021. The film had actually received a boost as it was one of the first Hindi films released in the theatres during the Covid-19 pandemic, but it failed miserably. The streak was continued by Akshay's and Tiger Shroff's .
The news comes just a day after crew members of Pooja Entertainment accused Vashu Bhagnani and his production house of not clearing the salaries of more than 100 staff. And now, it has been reported that Bhagnani has sold his seven-floor office at Pooja Enterta.
