Twitter, the popular social media platform, is facing eviction from its office in Boulder, Colorado, due to unpaid rent.
Court documents reveal that a judge has approved the eviction, highlighting the financial troubles the tech giant has encountered since its acquisition by Elon Musk.
Reports have indicated that Twitter’s business operations have experienced significant disruption under Musk’s leadership, resulting in a number of unpaid bills. While it is not uncommon for contractors to face payment delays during a transitional period, the failure to pay rent for several months suggests that Twitter’s financial situation may be worse than anticipated.
According to information from court documents and the Denver Business Journal, Lot 2 SBO LLC, the Chicago-based landlord that owns Twitter’s Boulder office at 3401 Bluff St, received a letter of credit worth $968,000 in February 2020.
This credit was used to cover rent payments instead of regular monetary transfers, although specific details of this arrangement remain unclear. The letter of credit was depleted in March, and Twitter has not made any subsequent payments. Assuming regular monthly rent payments were made from the letter of credit, the owed amount totals approximately $27,000 per month.
In response to the unpaid rent, the landlord filed a lawsuit in May, prompting the judge to issue an order on May 31 for the sheriff to assist in Twitter’s eviction within the next 49 days. This means that Twitter must vacate the premises before the end of July. The case number associated with this legal action is 2023CV30342 in Boulder District Court.
It is worth noting that Twitter’s Boulder office previously housed around 300 employees. However, due to layoffs, terminations, and resignations, the current workforce is not known.