EXCLUSIVE: Vashu Bhagnani offers Pooja Entertainment’s seven-floor workplace to settle Rs. 250 cr. financial obligation; lays off 80% of staff members following successive ticket office failures

Almost 4 years because its creation and a number of low and high later on, Vashu Bhagnani’s Pooja Entertainment is reeling from a significant monetary obstacle. The production banner, understood for making smash hit amusing motion pictures like Coolie No. 1, Biwi No. 1and Hero No. 1to name a few, is downsizing its operations following successive ticket office failures, Bollywood Hungama has actually specifically found out.

EXCLUSIVE: Vashu Bhagnani offers Pooja Entertainment’s seven-floor workplace to settle Rs. 250 cr. financial obligation; lays off 80% of staff members following successive ticket office failures

According to trade sources acquainted with the advancement, Vashu Bhagnani has actually offered his seven-floor workplace of Pooja Entertainment to a home builder. The identity of the home builder who acquired the land and the quantity it cost is not divulged yet, however they will obviously now destroy the structure to develop an elegant domestic task on the plot.

Vashu has actually likewise sacked nearly 80% of staff members and moved the workplace base to a two-bedroom flat in Juhu, the sources have actually exposed. The layoffs started in January 2024 after Jagan Shakti’s movie starring Tiger Shroff was shelved following a two-year battle to take it on floorings. The labor force was even more lowered in April, particularly after the release of Bade Miyan Chote MiyanThis advancement begins the heels of the dreadful ticket office failure of BMCMwhich hardly made Rs. 59.17 crores at package workplace versus the financial investment of Rs. 350 crores, leading to losses of a minimum of Rs. 125-150 crores for the production banner. Sources state Vashu has actually offered the structure to settle financial obligations to several investors, totaling up to around Rs. 250 crores.

“It all began with Bell Bottomwhich was among the very first Hindi film to be launched in theatres publish the COVID-19 pandemic in 2021. The movie tumbled terribly at package workplace therefore did the next one, Objective RaniganjThe business dealt with another obstacle when the big-budget Ganapath stopped working to carry out and was even declined by Netflix regardless of an acquisition offer. Warning had actually currently started to appear in the business’s monetary sheet by this point, and the massive financial investment in Bade Miyan Chote Miyan made matters worse. Even still, the company held out hope that the action performer starring Akshay Kumar and Tiger Shroff would reverse its monetary circumstance. The historical failure of this Ali Abbas Zafar directorial nearly paralyzed the business. Vashu had no option however to offer the structure to settle the massive financial obligation,” a source acquainted with the advancement informed Bollywood Hungama

Regardless of these obstacles, sources declare that Pooja Entertainment is not folding. Vashu and his child Jackky Bhagnani are figured out to reboot operations and have actually currently begun conversations with stars and directors for a fresh slate of motion pictures. In contrast to rumours, they are proceeding with Shahid Kapoor’s Ashwatthama job that they revealed simply a couple of months back.

Pooja Entertainment was developed in 1986 and has actually produced around 40 motion pictures to date. The huge successes include their movies with David Dhawan, such as Coolie No. 1, Hero No. 1, Biwi No. 1, and Bade Miyan Chote Miyanand extremely valued motion pictures such as Rehnaa Hai Terre Dil Mein, Om Jai Jagadishto name a few. The success ratio of the business, nevertheless, is surpassed by its huge ticket office failures such as Himmatwala (2013 ), Humshakals (2014 ), Bell Bottom, Mission Raniganj, Ganapathand the current Bade Miyan Chote Miyan

Check Out: Pooja Entertainment worker calls out Jackky Bhagnani and Vashu Bhagnani’s business over non-payment of fees; calls it, “less than professional, dishonest behaviour”

More Pages: Bade Miyan Chote Miyan Box Office Collection, Bade Miyan Chote Miyan Movie Review

BOLLYWOOD NEWS – LIVE UPDATES

Capture us for newest Bollywood News, New Bollywood Movies upgrade, Box workplace collection, New Movies Release, Bollywood News Hindi, Entertainment News, Bollywood Live News Today & & Upcoming Movies 2024 and remain upgraded with most current hindi films just on Bollywood Hungama.