Since Elon Musk took over, Twitter Inc. has faced a growing list of claims that it hasn’t paid its bills as the social media company aims to break even this year, the Wall Street Journal reported. Landlords, consultants and vendors in recent months have made demands for payments in at least nine lawsuits, with their complaints totaling more than $14 million plus interest. Musk inherited the bills when he took control more than three months ago and quickly implemented a more austere spending style as part of his signature intensity. “What Elon Musk is doing is basically simulating a bankruptcy,” said Van Conway, a restructuring expert who has helped distressed companies for almost 40 years. “He is taking a machete to his costs.” Since late October, Twitter has undergone dramatic changes as Mr. Musk has raced to remake the product of a company with a track record of losing money and slash costs amid an advertiser pullback and deal-related debt expenses. He has cut staff sharply and balked in tweets at spending, including what he said was $13 million a year on employee meals at the company’s headquarters.
