Atlanta entrepreneur Aisha “Pinky” Cole, the founder of the wildly popular vegan restaurant brand Slutty Vegan, has officially filed for Chapter 11 bankruptcy after court documents revealed nearly $1.4 million in debt.
According to filings, Cole reportedly owes approximately $1.2 million to the U.S. Small Business Administration and an additional $192,000 to the Georgia Department of Revenue. The bankruptcy filing allows her business to reorganize its debts while continuing operations.
Slutty Vegan first launched as a food truck in 2018 and quickly became a cultural phenomenon, growing into 14 brick-and-mortar locations at its peak. However, several stores have since closed as the company navigated financial challenges.
The next step in the legal process is a bankruptcy teleconference scheduled for March 12, with a formal reorganization plan due by June 12.
Adding another layer to the headlines, Cole just announced she will be making her reality television debut on the upcoming season of The Real Housewives of Atlanta.
She joins returning cast members Porsha Williams, Phaedra Parks, Drew Sidora, Shamea Morton Mwangi, Angela Oakley, and Kelli Ferrell. Country and R&B artist K. Michelle is also set to make her debut next season.
This isn’t the first financial hurdle for the brand. Back in August, a landlord for two Slutty Vegan locations on Edgewood Avenue filed a lawsuit alleging more than $87,000 in unpaid rent, late fees, and interest.
Despite the setbacks, Chapter 11 filings often allow companies the opportunity to restructure and bounce back — something many fans hope to see for the once fast-growing Atlanta staple.
Now, all eyes are on both the courtroom and Bravo cameras to see what’s next for Pinky Cole and her empire.
[efb_feed fanpage_id=”BlackCosmopolitan” words_limit=”25″ post_limit=”1″ skin_id=”115759″ cache_unit=”1″ cache_duration=”days” live_stream_only=”0″ load_more=”0″ links_new_tab=”1″ show_like_box=”0″]
Disclaimer:
For Education and discussion purposes…
