Coworking operator's Philadelphia affiliate files for bankruptcy protection

An entity affiliated with Joynture, a coworking operator that has 33,000 square feet of space on South Street in Philadelphia, has filed for Chapter 11 bankruptcy protection.

Joynture 417 South Street Inc. made the filing Sept. 9 in the Bankruptcy Court for the Eastern District of Pennsylvania. It lists assets between $50,001 to $100,000 and liabilities between $500,001 to $1 million. One of Joynture’s shareholders, Faisal Zafar, indicated on the filing that he had also voluntarily filed for Chapter 13 bankruptcy in August 2018 in the U.S. Bankruptcy Court for the District of New Jersey.