Pooja Entertainment In Massive Loses, Sells Office After Bade Miyan Chote Miyan Failure? (Photo Credit – Instagram)
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Vashu Bhagnani’s production company, Pooja Entertainment, is in shambles! The production company has reportedly faced major financial setbacks after back-to-back flops like Akshay Kumar’s Bell Bottom and Mission Raniganj. Bade Miyan Chote Miyan was the last nail in the coffin, and its losses have forced the producer to sell his lavish office to pay off the debts. Scroll below for all the details!
Pooja Entertainment is behind creating successful Bollywood films like Biwi No. 1, Coolie No. 1, and Hero No. 1. While Covid-19 affected the entire industry, the consequences were way more bitter for Vashu Bhagnani and team, who witnessed a major bump with Bell Bottom’s failure at the box office. It was reportedly made on a budget of around 150 crores but earned only 26.50 crores in its theatrical run.
While we all know about Mission Raniganj‘s bad performance, another roadblock was witnessed when Netflix refused to buy the rights to Tiger Shroff’s Ganapath after witnessing its box office numbers. According to a report by Bollywood Hungama, Pooja Entertainment was in debt of 250 crores and had to sell its seventh-floor office to pay off the dues.
The report adds, “Red flags had already begun to appear in the company’s financial sheet by this point, and the enormous investment in Bade Miyan Chote Miyan made matters worse. Even still, the firm held out hope that the action entertainer starring Akshay Kumar and Tiger Shroff would turn around its financial situation. However, the historic failure of this Ali Abbas Zafar directorial almost crippled the company. Vashu had no choice but to sell the building to pay off the enormous debt.”
In addition, around 80% of the employees have been laid off, and Vashu Bhagnani has moved his office to a 2-bedroom flat in Juhu.
The seventh-floor luxurious office has been sold to a builder, who plans to turn it into a lavish residential area. But Vashu and his son, Jackky Bhagnani, are determined to bounce back. The duo is in conversation with actors to create a fresh slate of films.
Here’s hoping Pooja Entertainment makes a powerful comeback to Bollywood.
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