Pinky Cole has officially filed for Chapter 11 bankruptcy.
According to reports, the Slutty Vegan founder filed the petition in Georgia on March 2, and she reportedly owes approximately $1.2 million to the U.S. Small Business Administration, which was in connection with a COVID-19 Economic Injury Disaster Loan. She also owes another $192,000 to the Georgia Department of Revenue in state taxes, totaling debts exceeding $1.3 million.
This filing comes a few months after Cole regained control of her company after its restructuring. Early last year, Cole’s company entered into an Assignment for the Benefit of Creditor, a state-level alternative to bankruptcy. This move forced the owner to relinquish ownership temporarily before she was able to buy it back a few weeks later.
This news also comes after Pinky Cole joined the newest season of The Real Housewives of Atlanta. In a previous interview, Cole spoke about deciding to file for bankruptcy.
“I fought it for a long time, to be honest, and I didn’t want to do it,” she said. “I didn’t want to face the public scrutiny. I didn’t want to face the opinions of others because I know I built something that’s so doted by so many people.”
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