Twitter owes millions in unpaid bills, lawsuits allege.
Twitter owes millions to landlords, vendors and outside contractors, according to a slew of recent lawsuits.
The nine suits reportedly claim the social media juggernaut has missed payments coming to $14 million total.
Three of the lawsuits are related to unpaid rent on offices Twitter occupies, according to the Wall Street Journal.
The company allegedly owes $6.8 million in back payments just on its San Francisco headquarters, CBS News reported.
Another case, filed by the marketing firm Canary, claims Twitter has a past-due bill of nearly $400,000 for services Twitter allegedly believes it can pay off whenever it “decides to do so.”
Twitter is also being sued by property management company Columbia Reit for $140,000 in unpaid rent in San Francisco, as well Private Jet Services Group for charter flights valued at $197,725.
Since CEO Elon Musk purchased Twitter last October for $44 billion, he’s been searching for ways to cut costs and bring in new revenue streams to combat their debt.
He’s laid off half of the platform’s workforce, implemented a new paid verification feature and ended enforcement of rules around COVID-19 misinformation. After previously claiming the company could face bankruptcy, Musk recently announced Twitter is projected to break even.
“Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties,” he tweeted earlier this month.
Twitter has also auctioned off more than 600 pieces of furniture and other items from their headquarters, in an effort to raise funds.
Musk says that by the end of the year, he would like to find someone to replace him as CEO. The announcement came after he conducted a Twitter poll in which users voted for him to step down.