From people.com
It was recently announced that Aisha "Pinky" Cole will be joining the newest season of 'Real Housewives of Atlanta,' set to premiere in April
Aisha "Pinky" Cole has filed for Chapter 11 bankruptcy protection, marking the latest turn in a turbulent period for the entrepreneur behind the viral plant-based burger chain Slutty Vegan.
According to court records obtained by PEOPLE, Cole filed the petition on March 2 in Georgia. Court documents show she owes approximately $1.2 million to the U.S. Small Business Administration tied to a COVID-19 Economic Injury Disaster Loan, along with roughly $192,000 to the Georgia Department of Revenue in state taxes. The filing lists total debts exceeding $1.3 million.
The move comes just months after Cole regained control of Slutty Vegan following a corporate restructuring. In early 2025, the company entered an Assignment for the Benefit of Creditors — a state-level alternative to bankruptcy — forcing Cole to temporarily relinquish ownership before buying back the brand and its intellectual property weeks later.
Lexi Scott for The Washington Post via Getty
Cole, who is also set to appear on Season 17 of The Real Housewives of Atlanta, has not yet publicly commented on the filing.
Representatives for Cole did not immediately respond to PEOPLE's request for comment.
In a previous interview with PEOPLE, Cole acknowledged the emotional weight of that decision.
“I fought it for a long time, to be honest, and I didn’t want to do it,” she said at the time. “I didn’t want to face the public scrutiny. I didn’t want to face the opinions of others because I know I built something that’s so doted by so many people.”
She added, “I could have easily gone to social media and did a rally cry for help, but I didn’t want to be a victim.”
Founded in 2018 as a delivery concept before expanding into a food truck and later brick-and-mortar locations, Slutty Vegan quickly became a sensation in Atlanta. Known for cheekily named menu items like the “One Night Stand” and “Sloppy Toppy,” the brand drew national attention and landed Cole on the Time 100 Next list. At its peak, the company expanded nationwide and reportedly reached a $100 million valuation.
But rapid growth came with mounting overhead. Cole previously told Forbes that despite generating double-digit millions in annual revenue and achieving unit-level profitability, corporate expenses — once totalling $10 million — weighed heavily on the balance sheet.
Recent filings also show Cole’s monthly expenses outpacing her income, and she faces additional legal and financial pressures, including prior wage claims and landlord disputes. Several Slutty Vegan locations have closed in the past year, leaving six currently operating.
Chapter 11 bankruptcy allows individuals or businesses to reorganize debt while continuing operations. A bankruptcy teleconference is scheduled for March 12, and a reorganization plan is due by June 12.
Despite the challenges, she previously told PEOPLE she remains focused on rebuilding. “I built this brand with heart and hustle,” she said. “And I’m not done yet.”
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