The founder behind one of Atlanta's most talked-about vegan restaurants is now seeking bankruptcy protection amid mounting financial pressure.
Aisha "Pinky" Cole, founder of the Atlanta-based restaurant franchise Slutty Vegan, filed for Chapter 11 bankruptcy last month (Feb. 12) and listed nearly $1.4 million in debt.
As seen in court documents reviewed by Complex, Cole shows she owes $1.2 million to the U.S. Small Business Administration and $192,000 to the Georgia Department of Revenue.
Slutty Vegan began as a food truck in 2018 and expanded to 14 locations, though several have since closed.
Cole's financial schedules list total assets of $3,748,000, including $2,894,200 in real estate holdings. Those properties include her primary residence and several investment properties across Georgia and an additional property in Baltimore, Maryland.
Her personal property is valued at $854,000 and includes household goods, electronics, artwork, jewelry, a French bulldog, commercial business equipment, a Baltimore liquor license, and a customer email list with 40,000 entries.
The filings also show ongoing legal matters, including a wage claim in Fulton County, a real estate claim in Texas, and a levied PayPal account. Her reported combined monthly expenses total $41,700, compared to a combined monthly income of $14,583, reflecting a significant deficit. In a note about her future income expectations, she wrote that she anticipates "more growth & opportunities.”
A bankruptcy teleconference is scheduled for March 12, and a repayment plan is due by June 12, per WSB-TV.
In August, the landlord for two Slutty Vegan locations in Atlanta’s Edgewood Avenue sued Cole, alleging more than $87,000 in past due rent, late fees, and interest.
Amid the bankruptcy proceedings, Cole also announced she will appear on the upcoming season of The Real Housewives of Atlanta alongside Porsha Williams, Phaedra Parks, Drew Sidora, Shamea Morton Mwangi, Angela Oakley, Kelli Ferrell, and K. Michelle.
