Producer Vashu Bhagnani’s Pooja Entertainment, known for films like ‘Bade Miyan Chote Miyan’, ‘Mission Raniganj’, ‘Jawaani Jaaneman’, and ‘Bell Bottom’, has sold its seven-floor office to pay off a Rs 250 crore debt. According to Bollywood Hungama, the funds from the sale are being used to clear debts, and the production house has laid off 80% of its staff.
The layoffs began in January 2024, following the shelving of a Tiger Shroff-starring film by Jagan Shakti. The workforce was further reduced in April after the release of ‘Bade Miyan Chote Miyan’. This film’s box office failure, earning only Rs 59.17 crores against an investment of Rs 350 crores, resulted in significant losses for the production company.
The financial troubles for Pooja Entertainment reportedly started with the 2021 release of ‘Bell Bottom’, which performed poorly post-COVID-19. Subsequent failures of ‘Mission Raniganj’ and the big-budget ‘Ganapath’, which was rejected by Netflix, worsened the situation. The heavy investment in ‘Bade Miyan Chote Miyan’ further strained finances.
Sources indicate that Vashu sold the office building to settle debts with multiple financiers. Despite these challenges, Vashu and his son Jackky Bhagnani remain determined to reboot operations and work on new projects to recover.
