Twitter Landlord Sues Company Over Breached Lease Agreement, Platform Owes Over R2.3M in Unpaid Rent

• One of Twitter's landlords is suing the social media platform for over more than R2.3 million in unpaid rent
• The landlord issued Twitter with a default notice on 16 December claiming if the company didn't pay in five days, eviction processes would be started
• Twitter was also behind on rent payments for its San Francisco headquarters and other global offices in mid-December 2022

SAN FRANCISCO - Twitter finds itself in hot water after one of the social media platform's landlords decided to take it to court over unpaid rent.

The lawsuit, which was filed on Thursday, 29 December 2022, claims that the company owes more than R2.3 million in rent for Twitter offices in the Hartford Building near Chinatown, San Francisco.

According to Bloomberg, the landlord served the platform with a default notice on 16 December demanding that the company pay its overdue rent within five days or else the lease agreement would be broken.

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When Elon Musk took over ownership of Twitter in late October 2022, he warned that the company was in the red and embarked on a string of cost-cutting measures. This included firing more than half of the company's employees and cutting down on expenses for staff perks like free food and work trips.

Business Insider reported that by mid-December the platform was overdue on rent for its San Francisco headquarters and other global offices.

Social Media users react to Twitter's legal troubles

Netizens took to social media to weigh in on Twitter's legal and financial troubles.

Below are some comments:

@complexzone claimed:

"This is what bankruptcy looks like."

@KeithMcCurdy commented:

"He is becoming more and more like Trump."

@2_opine added:

"And this is why Elon is closing offices."

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@iii_thorton suggested:

"They should just move like everyone else has."

@LesleyHoenig stated:

"And this kind of stuff is why I thought Twitter would already be in bankruptcy."

Elon Musk said Twitter no longer facing bankruptcy but platform isn’t secure yet: “Still much work to do”

In a related story, Briefly News reported that Twitter CEO Elon Musk said Twitter no longer faced the threat of bankruptcy, but the social media platform was not out of the woods yet.

While speaking on the All-in Podcast the tech billionaire said Twitter's new management had reigned in spending at the platform and gotten expenses under control.

However, Musk clarified in a follow-up tweet that while spending was under control, there was still a lot of work to do.

Source: Briefly News