Producer Vashu Bhagnani who has produced movies like Bell Bottom, Mission Raniganj, Bade Miyan Chote Miyan, Jawani Janeman, and various others under the banner of Pooja Entertainment has reportedly sold off his 7th floor office to pay off a debt worth 250 crore INR. The producer had a net worth of INR 2500 crore.
As per reports, he also laid off 80 percent of his employees to cut costs. The layoffs started in January 2024, after Tiger Shroff and Akshay Kumar starrer Bade Miyan Chote Miyan released and was shelved. The film had a struggle of 2 years before releasing.
BMCM had a disastrous box office collection as it was able to earn 59.17 crore INR in two weeks after an investment of 350 crores INR and thus this has been the main reason behind the selling off his office and the layoffs.
The losses for the banner had been a minimum of 120-150 crore INR due to the poor performance of the film and Bhagwani has had to sell the floor to pay the debts to his financiers.
It is said that in 2021, after the poor performance of Bell Bottom the pressure started for the banner and after subsequent flops at the box office of their films such as Ganpath, Mission Raniganj, and the recent Bade Miyan Chote Miyan the producer has had the ultimatum by his financiers and thus this result of the office being shut down permanently.
Although the situation is worse for them, he and his son Jackky Bhagnani have not lost hope and are set to rebuild the fortune from the grassroots again.
