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Aisha “Pinky” Cole, founder of the plant-based fast-food chain Slutty Vegan, has filed for Chapter 11 bankruptcy, according to Federal Court records.
The Baltimore entrepreneur is facing financial challenges, owing around $1.2 million to the U.S. Small Business Administration for a COVID-era loan meant to cover temporary revenue losses. In addition, she owes $192,000 in taxes to the Georgia Department of Revenue, as reported in a Feb. 12 filing with the U.S. Bankruptcy Court in Atlanta.
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Navigating a Turbulent Period
Cole created a vegan eatery brand famous for saucy sandwich names like the “Sloppy Toppy” burger and “Hollywood Hooker” cheesesteak. Starting as an Atlanta ghost kitchen in 2018, she called it a “merge of life’s two greatest pleasures: sex and food,” blending vibes and flavors. The business once had 14 spots nationwide, but over half have since closed.
The filing comes amid a turbulent period for the brand, following a corporate restructuring in early 2025 that temporarily stripped her of ownership. She later bought back the business in March 2025, rebranding it as Slutty Vegan 2.0.
Cole no longer owns the fast food chain or the company’s retail and real estate entities. She filed to have the assets transferred to a trust as a voluntary alternative to a formal bankruptcy process.
Speaking to Afrotech earlier this year, she said, “There’s risk in everything. There’s risk in being an entrepreneur. I’ve gotten out of the ego conversation a long time ago,” she explained to AFROTECH™. “I’ve been laid at the cross plenty of times. And at the end of the day, like I’m really not concerned with other people’s opinions.“
“As long as I provide them a really good product and they have a really good experience, that’s what matters to me. My reputation will precede me, and the services that I offer will precede me. I’m excited about new opportunities to be able to amplify my business,” she added.
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Next Steps From Here
The assets will now be liquidated and distributed by trustees to pay off Cole’s debts. However, she continues to own an 85% stake in her Slutty Vegan franchise, a chain of restaurants that remains active, court documents show.
Cole has struggled financially in recent years. In 2024, she cut off Slutty Vegan’s top executives and sold the $10 million real estate portfolio to cover construction costs and rising overhead and travel bills, she told The Banner in 2025.
Investors pushed to rush Baltimore Peninsula’s opening to “stop the bleeding.” She shut Spelman College, Georgia Tech, and Harlem, New York branches, and scrapped new shops in Washington, D.C., and Atlanta’s airport.
Her personal bankruptcy follows lawsuits over unpaid wages and rent in Atlanta. She faced foreclosure on her $140,000 Atlanta investment property in August. February filings show assets from $15,000 designer shoes to $150,000 vehicles like “The Magic School Slut” bus.
Cole owes over $3.6 million but has over $3.7 million in assets. She’s listed as unemployed, though she’d be on “The Real Housewives of Atlanta” soon. Her Baltimore Slutty Vegan locations nevertheless remain open.
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A bankruptcy teleconference is scheduled for March 12, 2026, while a reorganization plan must be submitted by June 12, 2026.
Main Image: Aisha Pinky Cole. Image Credit: Sister Circle
