New Court Filing Says Slutty Vegan Founder Pinky Cole Owes $4 Million in Debt

A major shift in financial reality has happened for one of the most prominent figures in Black entrepreneurship. Recent bankruptcy court filings reveal that Slutty Vegan founder Aisha “Pinky” Cole is now facing around $4 million in personal debt. This marks a notable rise from the roughly $1.4 million she reported earlier this year.

Cole is an Atlanta-born restaurateur who transformed a bold vegan idea into a multi-state success. However, documents submitted on May 19 in the U.S. Bankruptcy Court for the Northern District of Georgia show that Cole now has unpaid rent exceeding $360,000. There are also significant credit card debts, obligations to suppliers, and large amounts owed to institutional creditors.

The filings provide a clear view of the financial challenges facing a founder who was once admired for her belief in creating her own path. Cole owes $107,625 to Edward Don & Company. This is a restaurant supply business that has also filed a separate complaint for extra fees and interest. She also owes hundreds of thousands to real estate entities and has a $250,000 debt to Atlanta’s CIH Group.

Cole’s Slutty Vegan chain started in 2018 and became a popular choice with long lines in Atlanta and beyond. It had to shrink amidst financial pressures and closed several locations before she regained control in 2025.

In public interviews, Cole attributed much of her financial troubles to her business’s rapid growth. “Yes, we were making money, double‑digit millions, but if your payroll is high and you have all of these costs and everything is adding up, your bottom line is going to be red.” She told The Breakfast Club in a candid interview, according to reports.

Cole has also had disputes with her former chief financial officer, who is now facing criminal charges linked to a past restaurant project. She has pointed out that her personal guarantee on business debts is a key factor in her current financial situation.

As Cole works through Chapter 11 restructuring, her experiences reflect broader issues in small business survival. These include the difficulties of scaling hospitality brands, and the personal stories behind the headlines.