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In a recent development, court documents have revealed that Twitter, under its new ownership by Elon Musk, owes three months’ rent to its landlord in Boulder. The judge has now authorized the eviction of the tech giant from its office premises, shedding light on the company’s financial turmoil and mounting unpaid bills.
The Denver Business Journal, along with court documents, reports that Lot 2 SBO LLC, the Chicago-based landlord that owns Twitter’s office at 3401 Bluff St in Boulder, had been relying on a $968,000 letter of credit since February 2020 to cover the rent. However, the funds depleted in March, and Twitter has not made any payments since then. The estimated monthly rent, based on these figures, amounts to approximately $27,000, highlighting the substantial financial obligations involved in this dispute.
Taking legal action in May, the landlord sought resolution through the court system. On May 31, the judge issued an order authorizing the sheriff’s assistance in evicting Twitter within the next 49 days, which means before the end of July. The case number, 2023CV30342, is pending in the Boulder District Court.
Twitter’s Boulder office once employed around 300 individuals, but due to layoffs, terminations, and resignations, the current staff count is estimated to be significantly lower.
While TechCrunch confirmed the accuracy of the legal records referenced by the Denver Business Journal, the Sheriff’s office declined to comment until the matters reach a conclusion. Interestingly, during the investigation of this case, another separate case emerged, revealing that a cleaning company is seeking $93,504 in unpaid fees from Twitter.
Despite attempts to gather a response, Twitter did not provide any comment on the matter.
The eviction threat and the accumulating unpaid bills cast a shadow of uncertainty over Twitter’s future in Boulder, as the tech giant faces the consequences of its financial instability and strained operations under new ownership.
