Renowned for producing hit films,Vashu Bhagnani's production company, Pooja Entertainment, is facing significant financial challenges. Industry insiders reveal that the company has been forced to sell its Mumbai headquarters to settle a staggering ₹250 crore debt, as reported by Bollywood Hungama.


The production house, jointly managed by Vashu and his son Jackky Bhagnani, is scaling back operations following a string of box office disappointments, including "Bade Miyan Chote Miyan," "Bell Bottom," and "Ganapath."


In a drastic move to cut costs, Pooja Entertainment has reportedly laid off approximately 80% of its staff since January. The company has relocated to a modest two-bedroom apartment in Mumbai, a far cry from its former spacious office. The downsizing began after a long-awaited Tiger Shroff project was shelved following a two-year struggle to secure a release.


The financial strain intensified with the underwhelming performance of "Bade Miyan Chote Miyan," starring Akshay Kumar and Tiger Shroff. Despite a hefty ₹350 crore investment, the film barely grossed ₹59.17 crore at the box office.


Adding to the company's woes, numerous crew members have taken to social media to voice concerns over delayed payments, tarnishing the production house's reputation.


Despite these setbacks, the Bhagnanis remain committed to keeping their three-decade-old company afloat. They are actively planning new projects, including moving forward with Shahid Kapoor's "Ashwatthama."


While the future remains uncertain, Vashu and Jackky Bhagnani are determined to weather the storm and revitalize Pooja Entertainment, adapting to the changing landscape of the Indian film industry.