Vashu Bhagnani Sells Pooja Entertainment’s Mumbai Office and Lays Off 80% of Employees Amid Financial Struggles
In a significant move to address mounting financial pressures, Vashu Bhagnani has sold the Mumbai office of Pooja Entertainment and laid off 80% of the company’s employees. This drastic step comes as part of efforts to repay a substantial Rs. 250 crore debt.
The financial woes have been attributed primarily to the underperformance of the highly anticipated film “Bade Miyan Chote Miyan,” starring Akshay Kumar and Tiger Shroff. Despite high expectations, the film did not perform as well at the box office as projected, leading to severe financial repercussions for the production house.
“Bade Miyan Chote Miyan,” directed by Ali Abbas Zafar and released during Eid 2024, was one of the most ambitious projects for Pooja Entertainment. The film featured a star-studded cast and was produced on a grand scale, including extensive international shooting schedules and high-octane action sequences. However, despite the significant investment and marketing efforts, the film failed to meet box office expectations, earning mixed reviews and underwhelming ticket sales.
This financial setback forced Vashu Bhagnani to make the tough decision of liquidating assets and reducing the workforce. The sale of the Mumbai office and the layoffs are seen as measures to stabilize the company and address the immediate debt crisis. The entertainment industry has been particularly volatile, and the impact of a single high-budget film failing can have cascading effects on a production house’s financial health.
As Pooja Entertainment navigates these challenging times, the future remains uncertain for many of its employees and the projects in its pipeline. The situation highlights the high stakes involved in the film industry, where substantial investments are made with the hope of high returns, but the risk of financial instability is ever-present.
Bade Miyan Chote Miyan flopped at the box office, earning just Rs 59.17 crores despite a Rs 350 crore investment.
