Veteran Bollywood producer Vashu Bhagnani’s production house, Pooja Entertainment, has been grappling with financial difficulties recently. To address a staggering ₹250 crore debt, the company has undergone a significant restructuring, including selling its Mumbai office and laying off a majority of its staff.

String of Box Office Setbacks

Pooja Entertainment, known for delivering hits like “Biwi No. 1” and “Coolie No. 1,” has faced a string of box office disappointments in recent years. Films like “Bell Bottom,” starring Akshay Kumar, and the much-anticipated remake of “Bade Miyan Chote Miyan” failed to connect with audiences. These flops significantly impacted the production house’s finances.

However, reports suggest that box office performance wasn’t the sole factor contributing to the financial woes. In early 2024, several individuals associated with Pooja Entertainment took to social media, alleging non-payment of salaries and unprofessional behavior by the company. This negative publicity might have further dented investor confidence and added to the financial strain.

Big-Budget Gamble Backfires : Bade Miyan Chote Miyan

Industry experts believe the high-budget “Bade Miyan Chote Miyan” reboot, starring Akshay Kumar and Tiger Shroff, was a major turning point. The film, directed by Ali Abbas Zafar, reportedly struggled with pre-production for two years before being shelved. This setback, coupled with other box office failures and allegations of unprofessional conduct, pushed Pooja Entertainment into a difficult financial situation.

Selling Assets and Downsizing for Survival

In a bid to recover from the mounting debt, Pooja Entertainment took drastic measures. The company reportedly sold its seven-floor office in Mumbai, a prime piece of real estate, to generate funds. The identity of the buyer and the sale price haven’t been disclosed yet. However, reports suggest the office space will likely be redeveloped into a luxury residential complex.

Furthermore, Pooja Entertainment has also significantly downsized its workforce. According to industry sources, around 80% of the employees have been laid off. These layoffs reportedly began in January 2024, following the shelving of the “Jagan Shakti” film starring Tiger Shroff.

Uncertain Future for Pooja Entertainment

The future of Pooja Entertainment remains uncertain. While the sale of the office and staff reduction will help manage the debt, it also signifies a major restructuring for the production house. It’s unclear how Pooja Entertainment plans to operate with a smaller team and without a dedicated office space.

Can the Production House Rise Again?

Vashu Bhagnani, known for his comedic films, has been a prominent figure in Bollywood for several decades. Pooja Entertainment has delivered numerous successful films over the years. Whether the production house can recover from this financial setback and return to its former glory is a question that only time will answer.

The industry will be closely watching Pooja Entertainment’s next moves. Will they focus on smaller budget films, targeting a different audience segment, or continue pursuing big-ticket productions? Additionally, regaining the trust of actors, technicians, and investors will be crucial for the company’s revival. The decisions made in the coming months will be critical in determining Pooja Entertainment’s future.

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