COVID-19 pandemic ‘Smaaash’ed gaming and entertainment centre

COVID-19 pandemic ‘Smaaash’ed gaming and entertainment centre

FPJ Web DeskUpdated: Tuesday, September 22, 2020, 03:17 PM IST
article-image

Indian gaming and entertainment centre operator, Smaaash Entertainment is shutting down, according to an NDTV report. The company decided to call it quits as per an internal email shared by the source.

The company found it difficult to hang on as the coronavirus cases continue to surge and operations have come to standstill. Smaaash operates in more than 40 locations across 19 cities in India and used to be a popular hangout for urban teens and tweens before lockdowns were imposed and fears forced them indoors.

In a letter to the company's employees dated September 15 and reviewed by Reuters, founder Shripal Morakhia said: "I am sorry that despite my best efforts I have failed in my efforts to save the company from its premature death." The email did not give other details.

The founder in his email stated that the investors failed to fund the company at this time of difficulties.

The founder did not respond to confirm the development.

In 2019, Smaaash had crossed Rs 3 billion about seven years after it opened its first outlet.

RECENT STORIES

Analysis: Anonymous Electoral Bonds Reined In — But What About Anonymous Cash Donations?

Analysis: Anonymous Electoral Bonds Reined In — But What About Anonymous Cash Donations?

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report