Just weeks after filing for Chapter 11 bankruptcy, Slutty Vegan founder Pinky Cole is facing another significant financial hurdle. Cole claims a creditor has unlawfully seized one of her investment properties in Metro Atlanta, just ahead of her debut on “Real Housewives of Atlanta.”
Allegations of Unlawful Seizure
According to reports, Cole discovered the property seizure when she was unable to access her home in Loganville, a suburb east of Atlanta. The creditor reportedly changed the locks and posted a notice on the window after her bankruptcy filing. This action, Cole asserts, directly violates the “automatic stay” protection that comes with bankruptcy.
Her legal team stated that “no collectors can continue pursuing recollection while she is in bankruptcy.” The seized property, a 2,800-square-foot home with six bedrooms and four bathrooms, was an investment property used to generate additional income. Cole claims the seizure has caused “extreme financial harm,” particularly as an upcoming tenant’s lease is now in jeopardy.
Financial Woes and Chapter 11
This incident marks a challenging period for the entrepreneur, whose Slutty Vegan chain once experienced rapid growth. Despite regaining ownership of the business, Cole has reportedly faced significant financial difficulties, including owing millions to debt collectors. Her Chapter 11 bankruptcy filing is a process designed to allow individuals or businesses to restructure debts while continuing operations.
Documents filed indicate that Cole is currently unemployed and relies on her husband, Derrick Hayes (owner of Big Dave’s Philly Cheesesteaks), for financial support. Hayes reportedly earns $15,000 a month, which Cole claims sustains them.
A Look Ahead on Reality TV
Fans will likely get a closer look at Cole’s business journey and current struggles when “The Real Housewives of Atlanta” premieres on April 5. The show may offer insights into the pressures and challenges she’s facing as she navigates these financial and legal battles.
What are your thoughts on Pinky Cole’s situation? Do you think the creditor acted unlawfully? Share your opinions in the comments below!
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