By Andrea Bossi ·Updated March 3, 2026 Getting your Trinity Audio player ready…

Slutty Vegan is in a jam. Founder Pinky Cole filed for Chapter 11 bankruptcy on March 2.

The Baltimore-born entrepreneur’s vegan burger chain owes $1.2 million to the U.S. Small Business Administration and $192,000 to the Georgia Department of Revenue, per court filings. Cole — who stars on the current season of Real Housewives of Atlanta, Season 17 — has yet to publicly comment on this latest news.

Slutty Vegan was born out of Cole’s cravings for vegan junk food. The sex-themed, plant-based fast food company started as a meal delivery service in 2018 before becoming a food truck. Cole then opened her first doors in 2019 in Atlanta, and it became a buzzy sensation, expanding across the country and landing Cole a spot on the Time 100 Next list. Today, menu items include cheekily-named burgers, like the “One Night Stand” and “Sloppy Toppy,” in addition to typical late-night helpings like fries. 

Behind the scenes, Slutty Vegan has had a turbulent past few years, including separate lawsuits brought in 2023 for unpaid wages and a case brought in August 2025 for unpaid rent at Atlanta storefronts. More importantly, the restaurateur previously temporarily lost her business due to cash flow issues, as she told Forbes. 

“In 2023, my corporate overhead was $10 million dollars. I was profitable at the unit level. I did double-digit millions last year in revenue. But when you look at my balance sheet, there’s a lot of debt there,” she said.

She eventually had to give up control and put the company through restructuring in February 2025. “I fought it for a long time, to be honest, and I didn’t want to do it. I didn’t want to face the public scrutiny,” she told People. “I didn’t want to face the opinions of others because I know I built something that’s so doted by so many people. I could have easily gone to social media and did a rally cry for help, but I didn’t want to be a victim.” She regained control several weeks later, in March 2025.

Past balance sheet issues, Cole also survived a near fatal car accident early 2025 when she was driving on the highway in Atlanta and a mattress got loose and smashed her windshield. It was like Final Destination, she recounted to People.

Filing for Chapter 11 bankruptcy is all about reorganizing and can be a smart move for a company in debt. Cole, who has already navigated tough moments during her entrepreneurial journey, made this move to protect her company. Slutty Vegan will stay in business as it figures out how to become profitable again. This could possibly involve a restructure, pausing lender lawsuits, or liquidating assets as necessary. Slutty Vegan has already closed several of its locations.

What’s next in proceedings? A court bankruptcy teleconference is scheduled for March 12, and a Slutty Vegan bankruptcy plan to reorganize is due June 12. 

Check back for updates on Slutty Vegan’s Chapter 11 bankruptcy.

The post Slutty Vegan Founder Pinky Cole Files For Bankruptcy Amid Nearly $1.4 Million In Debt appeared first on Essence.

Author: Kimberly Wilson

Read the original article on Essence.