Nationwide — Aisha “Pinky” Cole, founder of Slutty Vegan, has filed for Chapter 11 bankruptcy, citing nearly $1.4 million in debt. The news comes as some of her restaurant locations have closed, while she also prepares for a reality TV debut.
Cole owes $1.2 million to the U.S. Small Business Administration and about $192,000 to the Georgia Department of Revenue, court filings show. She started Slutty Vegan in 2018 as a food truck in Atlanta, and it quickly grew into a 14-location franchise.
Despite its early success, several Slutty Vegan spots have shut down. In August, a landlord sued Cole’s company over two locations on Edgewood Avenue, claiming more than $87,000 in unpaid rent, fees, and interest.
According to WSB-TV, the bankruptcy process will include a teleconference on March 12, and Cole must submit a formal bankruptcy plan by June 12. Chapter 11 will allow her to restructure debt while continuing to operate the business.
Meanwhile, Cole is set to appear on the next season of The Real Housewives of Atlanta, joining returning cast members and new additions, including K. Michelle. Fans will see her balancing her business challenges with her reality TV debut.