OYO files for bankruptcy? Twitter asks if this a new twist in the startup game of capital hunters?

New Delhi: In a shocking turn of events, an insolvency petition has been filed against hospitality firm OYO in the NCLT. As the news spilled out in public domain, people have all kinds of reactions about this.

OYO files for bankruptcy under IBC 2016

|@oyorooms #bankruptcy #OYO|https://t.co/jde8M4opV4

— Newsroom Post (@NewsroomPostCom) April 7, 2021

Reactions

Some users were sad as they were used to getting decent hotels at affordable prices

I am feeling very sad. With OYO I get decent Hotel rooms within my budget. Now I have to stay in bugs infested shacks. https://t.co/13SHJ1acEr

— Satvahana (@Satvahana) April 7, 2021

I hope every one of you has had a splendid time at their lavish hotels! Will be missed. Pride of Gurgaon #OYO https://t.co/aFJiVAUPFs

— LoftyIdeals? (@angirahedgehog) April 7, 2021

While some were surprised to see this shocking news

And the end of OYO is here

Short time popularity and reaching every town… Was a great hit in hospitality segment

Surprisingly OYO files for bankruptcy https://t.co/40FgEFxXjj

— Satheesh Kumar (@saysatheesh) April 7, 2021

Many people blamed COVID-19 for this bad news

Shit…most famed Indian hotel story gone bust due to Covid. Most difficult times for startups !! #Oyo #startup #unicorn #softbank #bankruptcy https://t.co/ZauwBjAysw

— Snehal (@SneDam) April 7, 2021

OyO has filed the bankruptcy shows how couples didn’t book the OyO in order to follow the lockdown norms since covid outbreak. https://t.co/B96WsiWffF

— Dopecrowly / Main got Jacked (@dopecrowly_) April 7, 2021

The story of businesses falling apart owing to Covid-19 continues, Oyo Hotels and Homes Pvt Ltd, files for Bankruptcy.

— VigneshKrishnamurthy (@Becksowen2001) April 7, 2021

While some saw this coming for a long time

Oyo files for bankruptcy. My bear friends — pic.twitter.com/6zaJDuQv7h

— Navdeep (@DerZuschauer7) April 7, 2021

OYO Rooms files for bankruptcy.
Oh, no. Who could’ve seen this coming? https://t.co/Kdt5AZTnKl

— Based Trader (@TraderBased) April 7, 2021