Pinky Cole says business debt drove her Chapter 11 filing

Aisha "Pinky" Cole, founder of the fast-food chain Slutty Vegan and a new cast member on the upcoming season of The Real Housewives of Atlanta, said at a creditors' meeting that business debt drove her to file personal Chapter 11 bankruptcy. Testifying under oath, she said she had personally guaranteed much of the company's debt, prompting creditors to pursue her for repayment.

Cole launched Slutty Vegan in 2018 from a shared kitchen in Atlanta and grew it to more than a dozen brick-and-mortar locations; at its peak the business was reportedly worth $100 million. Though several outposts remain open, the chain has struggled financially.

In her bankruptcy filing she estimated assets and liabilities each between $1 million and $10 million and listed $1.2 million owed to the U.S. Small Business Administration and about $192,000 in state taxes. When the trustee asked how many bank accounts she had, Cole said she had closed her personal account after retaining counsel and that it held about $6 at the time.

United States, Atlanta

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