Aisha “Pinky” Cole, the entrepreneur behind the popular vegan restaurant chain Slutty Vegan, filed for Chapter 11 bankruptcy protection on February 12, 2026, in the Northern District of Georgia, according to court records. The filing comes as a surprising turn for the businesswoman who built a devoted following and a $100 million empire, as reported by Capital B News. This move allows Slutty Vegan to reorganize its debts while continuing operations.
Legal filings reveal Cole owes approximately $1.4 million, with the largest portion – roughly $1.2 million – owed to the U.S. Slight Business Administration. An additional $192,000 is owed to the Georgia Department of Revenue, WBLS reports. The debt is partially attributed to a COVID-era Economic Injury Disaster Loan (EIDL), a program designed to help small businesses navigate the financial challenges of the pandemic.
From Food Truck to National Sensation
Cole’s journey began in 2018 with a food truck, quickly gaining viral attention on social media for its boldly named vegan burgers – like the “Fussy Hussy” and “Dancehall Queen” – and long lines of eager customers. As Capital B News detailed, the business rapidly expanded, opening 18 locations across the country by 2018. Cole’s success wasn’t just about the food. she cultivated a strong connection with her customers, once stating, “People love Slutty Vegan because they love me,” highlighting the personal brand she built.
The expansion included a cocktail lounge at Ponce City Market in 2021 and products sold in Target stores. By 2022, Slutty Vegan was reportedly valued at $100 million. However, the rapid growth was followed by a period of restructuring, including the closure of several locations due to legal and financial disputes. Cole announced franchising opportunities in 2025 in an effort to revitalize the business, but the financial strain ultimately led to the bankruptcy filing.
A Complex Financial Picture
Cole initially filed a Chapter 13 bankruptcy petition in January, but later withdrew it in favor of Chapter 11, a more common route for businesses seeking to reorganize. Chapter 11 allows a company to continue operating while negotiating with creditors to develop a plan to repay its debts. The court documents as well indicate that Cole listed real estate, vehicles, and restaurant equipment as assets. Notably, a news summary reported that Cole described herself as “unemployed” in the filings, according to WBLS.
The bankruptcy filing isn’t occurring in isolation. Industry observers note a recent string of insolvencies within the hospitality and restaurant sectors, citing soaring costs and shrinking profit margins as contributing factors. This broader economic context adds another layer to the challenges facing Slutty Vegan.
Beyond the Restaurant: A Growing Profile
Cole’s profile extends beyond the restaurant industry. She was recently announced as a new cast member on the 17th season of Bravo’s “The Real Housewives of Atlanta,” adding another dimension to her public persona. This new venture comes at a pivotal moment as she navigates the financial restructuring of her business.
Prior to the bankruptcy filing, Cole faced legal challenges including lawsuits from landlords and claims related to tips and wages, which contributed to the financial pressures on the company. The outcome of the Chapter 11 proceedings will depend on whether creditors and the court approve a reorganization plan, allowing Slutty Vegan to negotiate its debts and potentially emerge as a viable business.
The next steps in the bankruptcy process remain to be seen, but will likely involve negotiations with creditors and the development of a restructuring plan. Updates on the case can be found through the U.S. Bankruptcy Court for the Northern District of Georgia.
This is a developing story.
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