Elon Musk’s Twitter sued over missed rent payments at UK headquarters in San Francisco

0
4

Twitter faces two separate lawsuits for defaulting on rent payments at its London office and San Francisco headquarters as the social media giant’s financial battle continues.

The Crown Estate, which manages properties in King Charles’ portfolio, is reportedly suing Twitter over unpaid rent at the company’s UK headquarters in London at 20 Air Street.

A spokesperson for the Crown Estate said it had previously reached out to Twitter before the rent arrears lawsuit was filed, according to CNN.

The landlord claims that Twitter was in breach of contract by not paying those rent payments, as well as not increasing his credit line by $10 million, which the lease required him to do in the event of a change of ownership.

Earlier this month, employees at the company’s Asia-Pacific headquarters in Singapore were told they had just hours to remove their belongings from the office and start working remotely, according to Bloomberg.

Musk bought Twitter for $44 billion last year after trying to get out of the deal multiple times. Musk’s first interest payment on the debt he took on to fund the deal could be due by the end of this month, according to the TBEN.

LEAVE A REPLY

Please enter your comment!
Please enter your name here