Twitter, one of the most popular social media platforms in the world, has not been on the agenda lately. So much so that the company got stuck in a swamp because of the radical decisions taken after it was sold to Elon Musk. It saw a serious drop in value. Although a new name has taken the CEO seat, the company is still struggling with some problems. Today, an office of Twitter is closing because its rent cannot be paid. Here are the details…
Twitter’s Boulder office is closing!
Things didn’t go well at the company after Elon Musk bought Twitter. Because of the wrong decisions made, economic problems started. However, many companies have stopped advertising on Twitter as if they were imposing sanctions. Of course, considering that ads are the main source of income for a social media platform, this was not very good news for the company.
A third of Twitter’s biggest advertisers have cut deals with the platform. As a result, the company lost almost half of its total value. Of course, when there were economic problems, the rent payments of the offices started to be delayed and sometimes not paid.
Several offices of Twitter so far have been closed by court order on the grounds that the rent could not be paid. Today, the Boulder office in the US state of Colora has joined them. According to the news of TechCrunch, the court decided to evict Twitter for not paying rent for 3 months.
According to court documents and the Denver Business Journal report, Twitter gave its tenant a $968,000 bond in February 2020. However, since March, the payment has stopped. The owner then applied to the court.
The judge gave Twitter until July 2020 to vacate the office. However, this did not happen. After a long time, another judge made a decision for the company to evacuate the office, according to the information conveyed today. This was recorded as the second decision. However, Twitter was ordered to pay 3 months’ rent to the property owner.
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