Aisha "Pinky" Cole, the Atlanta restaurateur behind Slutty Vegan, filed for Chapter 11 bankruptcy on Monday, March 2, 2026, setting up a high-stakes reset for the fast-growing burger brand. Court papers show roughly $1,000,000 owed to the U.S. Small Business Administration, a significant tab for a company that climbed from a single food truck to a multi-state operation in just a few years.
The filing was first reported by the Atlanta Business Chronicle, which reviewed the bankruptcy documents and identified the SBA as holding about $1,000,000 in claims. According to the report, Cole chose Chapter 11 in an effort to buy the business time to regroup while keeping doors open and burgers on the grill.
Cole and her company have been navigating well-publicized money troubles since 2024, including a temporary assignment for the benefit of creditors and a March 2025 buyback that relaunched the business under the "Slutty Vegan 2.0" banner. She has spoken publicly about overhead that grew too fast and has been reshaping the company with new leadership and a heavier focus on franchising, which helps explain why a formal court-supervised reorganization is now on the table. People
That restructuring has already come with visible fallout. Several company-operated stores and sister concepts have shut their doors, and some landlords have gone to court claiming unpaid rent and fees. WSB-TV
At the same time, the chain has been trimming locations while Cole leans into a franchising strategy that rolled out late last year in an effort to steady growth rather than chase it at any cost. The Atlanta Journal-Constitution
What Chapter 11 Means
Chapter 11 is designed to give a business breathing room from its creditors so it can propose a plan to pay them back while staying in operation. The filing triggers an automatic stay that stops most lawsuits and collection efforts. In most cases, the existing management stays in charge as a "debtor-in-possession" unless a judge decides a trustee is needed, and the process itself can be lengthy and expensive, especially for smaller companies trying to turn the ship around. United States Courts
What to Watch Next
Over the next several weeks, key questions will include whether a creditors' committee forms, whether Cole seeks new debtor-in-possession financing, and how landlords and franchise partners react as the case works through federal court. Customers holding gift cards and local vendors with open invoices will also want to keep an eye on the docket, since negotiations and repayment plans can affect how and whether day-to-day operations change.
Hoodline has previously tracked Cole's ambitions beyond Atlanta, including the brand's Baltimore expansion, which helped underscore Slutty Vegan's growing footprint. That context is part of what makes this Chapter 11 turn such a closely watched moment for both the city’s dining scene and one of its most talked-about homegrown brands.
