ReshaMandi, a Bengaluru-based B2B startup specializing in silk yarn, has terminated its operations and laid off 500 employees. The company has been offline for a week, coinciding with the resignation of its auditor. Financial difficulties and failure to secure Series B funding led to employee reductions and ongoing legal battles with creditors and vendors.
“It’s all over” for this ‘speciality’ startup that had 500 employees; website shutdown, auditors out
