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Covid impact: ZiffyHomes struggles with vendor payments, salaries

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Gurugram-based home rental startup ZiffyHomes, backed by startup accelerator Y Combinator, has deferred payments of several vendors and are yet to pay for their leased properties amid the covid-19 crisis, according to multiple people aware of the development.

These dues average around ₹3 lakh per vendor for a period of nearly six months. The firm has also announced pay cuts for its employees, stopped hiring in the past month and may layoff people in the coming week, according to employees, raising questions about the survival of the startup.

Three vendors said the company founders have informed them that ZiffyHomes might file for bankruptcy, which may further disrupt payments that are due.

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covid-19 Coronavirus
COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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