Pinky Cole Hayes, the charismatic entrepreneur behind the plant-based burger empire Slutty Vegan, has long been celebrated for her rags-to-riches story. Starting from a modest food truck in Atlanta in 2018, she built a brand that resonated with vegan enthusiasts and celebrities alike, amassing a valuation nearing $100 million by 2022 through viral marketing and bold expansions. But beneath the success lay a cautionary tale of overambition, as detailed in a recent Fast Company profile, where Cole Hayes recounts how financial missteps nearly dismantled her company.

The trouble began with rapid growth. Eager to capitalize on Slutty Vegan’s popularity—fueled by provocative menu names like the “One Night Stand” burger—Cole Hayes pursued aggressive expansion, opening multiple locations across Georgia and beyond. However, this came at a steep cost: mounting debts from construction overruns, supply chain issues, and operational inefficiencies. By early 2025, the chain was saddled with $20 million in liabilities, forcing the closure of half its outlets, including high-profile spots in New York and Texas, according to reports from The Baltimore Banner.

The Perils of Fast-Paced Scaling: Lessons from a Plant-Based Powerhouse’s Near Collapse

Insiders familiar with the quick-service restaurant sector note that Slutty Vegan’s woes echoed common pitfalls in the industry, where hype can outpace sustainable business practices. Cole Hayes admitted in interviews that she relinquished control to investors and partners during a funding round, diluting her ownership to a minority stake. This shift, intended to fuel growth, instead led to boardroom battles and strategic misalignments, culminating in her temporary ouster from day-to-day operations. As Forbes highlighted in an April 2025 piece, the brand’s once-celebrated $100 million success story teetered on the brink, with Cole Hayes fighting to repurchase shares amid legal and financial turmoil.

Her recovery strategy was multifaceted. Drawing on personal resilience—honed from earlier setbacks, including a life-threatening accident—Cole Hayes negotiated buybacks, restructured debts, and refocused on core markets. She emphasized authenticity in rebuilding, telling People magazine that the ordeal shifted her outlook, prioritizing community engagement over unchecked expansion. Recent moves, such as partnering with rapper Flo Rida for a Florida debut, signal a measured comeback, as noted in AfroTech coverage from June 2025.

Reclaiming Ownership: Strategic Pivots and Industry Insights for Entrepreneurs

For industry insiders, Cole Hayes’s saga underscores the double-edged sword of venture capital in the food sector. Posts on X (formerly Twitter) from business observers, including shares from Fast Company and QSR Web, reflect widespread admiration for her turnaround, with many highlighting her “PhD lessons” in resilience—turning $20 million in debt into a projected $100 million valuation revival through podcasts like QSR Web’s Founderology. She streamlined operations by closing underperforming sites and investing in supply chain efficiencies, a tactic that stabilized cash flow.

Critics, however, point to past controversies, such as a 2023 wage theft lawsuit settlement mentioned in X discussions, which briefly tarnished her image. Yet, Cole Hayes has reframed these as growth opportunities, advocating for transparency in a May 2025 Yahoo News interview where she declared, “I’m reclaiming what’s mine.” Today, with seven core locations thriving, primarily in Georgia, and new ventures on the horizon, her story serves as a blueprint for founders navigating the volatile world of scaling consumer brands.

Beyond Burgers: Building a Lasting Legacy in Vegan Innovation

Looking ahead, Cole Hayes is diversifying beyond restaurants. Her Pinky Cole Foundation continues charitable efforts, like debt relief for students, echoing her 2019 initiatives praised on X by outlets like The Root. Industry analysts see her recovery as a model for Black-owned businesses in food tech, where access to equitable funding remains a hurdle. As BizToc summarized in an August 2025 update, her regained control positions Slutty Vegan for sustainable growth, potentially eyeing franchising or product lines.

Ultimately, Cole Hayes’s journey from loss to redemption highlights the grit required in entrepreneurship. By blending bold branding with prudent financial oversight, she’s not just saving a business but inspiring a new generation of innovators in the plant-based space.