Twitter facing legal action from Crown Estate in connection to rent
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Twitter has found itself facing rent-related legal action from the Crown Estate in the U.K.
In connection to outstanding rent Twitter allegedly owes for its London Office, the court proceedings were issued to the social media company, the Crown Estate told FOX Business on Tuesday. Prior to doing so, it had reached out to Twitter.
In this photo illustration a Twitter logo is displayed on a smartphone screen. (Omar Marques/SOPA Images/LightRocket via Getty Images / Getty Images)
They are currently engaged in talks, according to the Crown Estate.
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The Crown Estate is an "independent commercial business, created by an Act of Parliament, with a diverse portfolio of UK buildings, shoreline, seabed, forestry, agriculture and common land," according to the U.K. government. One of the assets within its portfolio is the Windsor Estate.
On its website, the Crown Estate says over £3 billion has been generated by it "for public spending" in the span of about 10 years.
Twitter did not respond to a request for comment by the time of publication.
A Twitter headquarters sign is shown in San Francisco, Friday, Nov. 4, 2022. Employees were bracing for widespread layoffs at Twitter on Friday, as new owner Elon Musk overhauls the social platform. (AP Photo/Jeff Chiu / AP Newsroom)
In addition to the proceedings in the U.K., Twitter has also seen legal action pertaining to rent taken against it in the U.S. this month. SRI Nine Market Square LLC recently sued, making claims about Twitter being in arrears on a few million dollars in rent for the social media platform’s headquarters in San Francisco, according to the Wall Street Journal.
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In late October, the social media company was acquired by Tesla CEO Elon Musk. His takeover came over six months after he first revealed plans to buy Twitter and after a lengthy legal battle in which a Delaware court gave him and the company a deadline to finish the deal.
In this photo illustration, a Twitter logo seen displayed on a smartphone screen. Mush defended layoffs at the social media platform on Friday, saying it was losing more than $4 million per day. (Sheldon Cooper/SOPA Images/LightRocket via Getty Images / Getty Images)
Twitter under Musk has been taking steps to curb costs. Many Twitter employees were let go during a large round of layoffs not long after the acquisition. There have also been reports the company is reducing its physical footprint by closing Seattle and New York City office spaces.
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Anders Hagstrom contributed to this report.