Twitter, owned by world’s richest man, asked to vacate office over non-payment of rent
Twitter, owned by world’s richest man, asked to vacate office over non-payment of rent
Twitter is being kicked out of the company’s offices in Collardo over non-payment of rent in the building. The social media giant has not paid the rent since March this year and now a Judge has asked the sheriff to assist in the eviction of Twitter from the Colorado premises within the next 49 days.
According to a report in the Denver Business Journal, Twitter had given the landlord a $968,000 letter of credit when it leased 4 units in its building in February 2020. The 65,000 sq ft office is located at 3401 Bluff Street, Boulder, Colorado.
Twitter has been using its $968,000 letter of credit in lieu of normal rent payments, but the credit ran out in March this year and the company has not paid the rent since.
The landlord filed a lawsuit in Boulder District Court in May, and the Elon Musk-owned company was ordered to vacate its offices within 49 days on May 31.
At its peak, the Boulder office employed around 300 people. However, citing the Colorado Department of Labor and Employment, The Independent reported that as of November last year, Twitter had laid off around 87 employees, while 38 others had voluntarily left the company.
The report goes on to say that Twitter has also been sued by another Boulder-based company, Avalanche Commercial Cleaning, for around $93,500 in unpaid bills.
According to a Bloomberg report in December last year, Twitter was being sued by its San Francisco landlord for non-payment of $136,250 in rent for its offices on the 30th floor of the Hartford Building. The New York Times also reported the same month that the social media giant had not paid rent on any of its offices for months.
