A once-hip and edgy burger chain seems to be losing its sizzle, as its founder flips over to Chapter 11 bankruptcy.
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Slutty Vegan’s owner, Aisha “Pinky” Cole, is trading in her reality TV drama for some real-world financial drama. The new Real Housewives of Atlanta star has filed for Chapter 11 bankruptcy protection, signaling a rocky patch for the plant-based burger chain.
TMZ reports that Cole filed a petition on March 2 in Georgia. Court records reveal she owes about $1.2 million to the U.S. Small Business Administration for a COVID-19 Economic Injury Disaster Loan, as well as approximately $192,000 in state taxes to the Georgia Department of Revenue. Her total debts are listed at over $1.3 million.
This move comes just months after Cole regained control of Slutty Vegan through a corporate restructuring, according to PEOPLE. In early 2025, the company entered a state-level bankruptcy alternative known as an Assignment for the Benefit of Creditors. This process temporarily forced Cole to give up ownership before she repurchased the brand and its intellectual property a few weeks later.
The Hip Burger Chain Kicked off as a Food Truck
What started as a delivery-only concept in 2018 quickly blew up. Slutty Vegan evolved into a food truck and then brick-and-mortar locations, becoming an Atlanta sensation. With cheekily named burgers like the “One Night Stand,” the brand grabbed national headlines and a spot on the Time 100 Next list for Cole. It also boasted a reported $100 million valuation at its peak.
Rapid growth brought increasing overhead costs. Cole told Forbes that despite generating tens of millions in annual revenue and achieving profitability at the unit level, corporate expenses—once reaching $10 million—put significant strain on the balance sheet.
Recent court filings show Cole’s personal monthly expenses exceeded her income. She also faces legal and financial issues, including wage claims and landlord disputes. Several Slutty Vegan locations have closed in the past year, with six remaining open.
Chapter 11 bankruptcy enables individuals or businesses to restructure debt while continuing to operate. A teleconference on the bankruptcy case is scheduled for March 12, with a reorganization plan due by June 12.
Meanwhile, TMZ points out that Cole was just added to the RHOA cast. Of course, this means we’ll probably see some of this burger chain drama play out in the Bravoverse…