Twitter is reportedly being evicted from its office in Boulder, Colorado after not paying rent the past two months.
Last month, Twitter’s landlord filed a complaint against its Elon Musk-headed tenant, alleging the company was behind on rent payments, according to court documents obtained by the Denver Business Journal.
A Boulder County judge has since ordered a sheriff to remove Twitter from its Rocky Mountain outpost, located at 3401 Bluff St. in Boulder, Colo., the outlet reported.
Twitter reportedly signed a lease for four office suites in the Bluff St. building — known as Railyards at S’Park in 2020, amassing to 65,000 square feet shared among 300 workers.
The offices were leased from Lot 2 SBO LLC, a landlord affiliated with The John Buck Company, a Chicago-based real estate firm, according to the Business Journal.
Twitter moved into the office in Feb. 2020 and set up a letter of credit worth $968,000, which Lot 2 was authorized to use if Twitter failed to pay its rent.
The lease agreement said Twitter must replenish the letter of credit within 10 days if that were to happen, the Denver outlet reported.
The complaint alleges that the landlord used the letter of credit to cover Twitter’s rent for March, but the so-called “everything app” failed to top up the funds within the 10-day allotted time period outlined in the lease.
Lot 2 took Twitter to court, demanding that it surrender the property back to the landlord or refill the letter of credit within 72 hours.
Twitter did neither, according to the complaint obtained by the Business Journal.
On May 31, a judge ordered a sheriff to evict Twitter with a “writ of restitution,” which will remain in effect for 49 days.
In the three-plus years Twitter occupied the Railyards at S’Park office space, 38 Boulder-based employees resigned, citing Musk’s internal memo that said workers need to be “extremely hardcore” in pursuing “Twitter 2.0 and succeeding in an increasingly competitive world.”
“This will mean working long hours at high intensity. Only exceptional performance will constitute a passing grade,” Musk added in the formidable message.
Prior to the memo, Musk slashed Twitter’s workforce in half in a cost-cutting move that affected 87 employees based at the Boulder hub.
Twitter’s finances have been dire since Musk bought the social media platform for $44 billion in October.
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