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For the past several days, there have been reports that actor Jackie Bhagnani's father and famous producer Vashu Bhagnani has not paid salary to his employees for the last 2 years. This was revealed when a female employee working in Vashu Bhagnani's production house Pooja Entertainment raised this issue on social media. Meanwhile, now the news has come that Vashu Bhagnani has sold his office to pay off the debt. He has also laid off his staff.
According to Bollywood Hungama report, Vashu Bhagnani has recently sold his 7-storey office to a builder. After demolishing his office, a luxury residential project will be started in that place. There are reports that Vashu Bhagnani has sold his office to pay off his debt of Rs 250 crore.
Jackie with father Vashu Bhagnani.
Office reduced from a 7 storey building to a 2 bedroom flat
According to the report, now the production house's office has shifted to a 2 bedroom flat in Juhu. For cost cutting, the production house has laid off 80% of the staff. Reports are that the layoff of staff had started from January. Pooja Entertainment Production House was making a film with Tiger Shroff, which was to be directed by Jagan Shakti, however that film has also been shelved.
The production house incurred losses due to the flop of the film Bade Miyan Chote Miyan
In April 2024, Pooja Entertainment's film Bade Miyan Chote Miyan has flopped badly at the box office. This film starring Akshay Kumar and Tiger Shroff was made on a mega budget of Rs 350 crore, however, the film could collect only Rs 60 crore.
The report quoted a source as saying, the company has suffered a huge loss due to the failure of Ali Abbas Zafar's directorial film (Bade Miyan Chote Miyan). Mr. Bhagnani had no option but to sell his office to repay the debt.
Many films of the production house flopped back to back
Since the year 2021, Vashu Bhagnani's production house is in loss due to flop films. The 2021 film Bell Bottom had a bad run at the box office, after which the films of this production Mission Raniganj and Ganpat also flopped.
The production house will keep an eye on Shahid Kapoor's film
Pooja Entertainment has recently announced Shahid Kapoor starrer film Ashwatthama. This will be a mega budget film, on which all the hopes of the production house are pinned. Let us tell you that Vashu Bhagnani is the father of actor Jackie Bhagnani. He started the production house Pooja Entertainment in 1986. This production house has produced super hit films like Coolie No. 1, Hero No. 1, Biwi No. 1, Pyar Kiya To Darna Kya, Rehna Hai Tere Dil Mein, Bade Miyan Chote Miyan.