Paris Bakery, One of the leading bakery chain of Odisha is now in legal trouble.
The well-known name is known for its popular products in the bakery industry which even got many recognitions including REDFM, featured in the leading regional news channel Prameya & even nominated for Citizens Award by OTV, is in news since the last 2days for all the wrong reasons.
An ambitious entrepreneur Jay Narayan PujaPanda who has successfully established himself in the retail business has worked for many leading companies like Shoppers Stop, Khadims, ICICI Bank & The World Group. In 2005 he returned to India and on 9th February 2014 he started his own business and named it Paris Bakery which was a joint venture with his friend Bibhas Ranjan.
Not to mention that Paris Bakery is one of the most preferred brands in the bakery industry among its customers and in a short span of time it has expanded to 8 locations and nearly 23 outlets, which includes the metro city like Kolkata.
But Paris Bakery’s cheerful story ends here and the brands gaining popularity at a high rate meet the deadlock!
Recently the owner has been accused of cheating a huge amount of 30 Crore rupees to its franchise owners. If we will compare this, then it is nearly 30% of the total profit of India’s leading food chain Zomato in 2016 which has earned 97 crores in revenue.
A complaint has been registered at the Crime Branch office of Bhubaneswar by the vendors, landlords of the organization office and even the employees who didn’t get their salary from last few months. The police are doing the investigation on the allegations.
We know what you think!
It’s hard to believe that the company which was growing like a speed of a bullet train was actually begun from Odisha, even before the startup word came into existence in the Odisha business world, the word which has a certain degree of excitement associated with it. Now in the uncertainty of the future of the company, it’s hard to say if the remaining franchises will continue or it will likewise get shut down.