Atlanta

Attorney explains why people file Chapter 11 after Slutty Vegan owner filed bankruptcy

ATLANTA — A bankruptcy attorney weighed in after the owner of the Slutty Vegan restaurant franchise, Aisha “Pinky” Cole, filed for Chapter 11 bankruptcy.

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“I think Pinky has a great, creative work ethic that brings the community together, so fingers crossed it all works out,” customer Robin Jackson told Channel 2’s Audrey Washington.

Cole is reportedly in nearly $1.4 million in debt.

“I am really sad to hear this,” Jackson added.

According to court filings, Cole owes $1.2 million to the U.S. Small Business Administration and $192,000 to the Georgia Department of Revenue.

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Bankruptcy attorney Schuyler Elliot is not working on Cole’s case, but said people usually file bankruptcy to stop a foreclosure or a lawsuit.

“The ultimate goal is to come into court and present a plan or reorganization and get that approved by the court,” said attorney Schuyler Elliott.

On Tuesday, Washington reached out to Cole’s representative for comment, but she did not hear back.

As for the Slutty Vegan franchise, Elliott said bankruptcy does not always equal closure.

“I think smart people file bankruptcy to try to save things. To work out things,” Elliott said.

Cole’s attorneys are expected to present a bankruptcy plan on June 12.

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