Judge Approves Eviction of Twitter from Boulder Office Due to Unpaid Rent
Twitter, under the management of Elon Musk, is facing significant turmoil as court documents reveal its failure to pay rent
Twitter, under the management of Elon Musk, is facing significant turmoil as court documents reveal its failure to pay rent for three months to its Boulder landlord.
The tech giant’s operations appear to be in disarray, with mounting reports of unpaid bills suggesting a deeper crisis within the company.
According to FACTZ.com sources and court records cited by the Denver Business Journal, Lot 2 SBO LLC, a Chicago-based landlord, owns the office space occupied by Twitter at 3401 Bluff St in Boulder.
In February 2020, the landlord was provided with a letter of credit amounting to $968,000, which served as a substitute for regular rent payments.
However, this fund was exhausted in March, and Twitter has not made any subsequent payments. Based on calculations, assuming regular rent payments were made from that sum, the monthly rent amounts to approximately $27,000. The complete cessation of rent payments raises concerns about the severity of Twitter’s operational challenges since Elon Musk assumed control.
The court’s decision serves as a significant setback for Twitter. As the tech giant grapples with this eviction, it faces mounting pressure to address the larger issues impacting its overall stability and viability in the industry.