Pinky Cole‘s attorney has spoken out amid swirling reports she’s facing a foreclosure to let fans know the “RHOA” star’s actual home is not at risk. Instead, the residence in question is merely a rental property, which her lawyer says is “being treated in the bankruptcy plan,” her lawyer explained, per a TMZ report.
The statement goes on, “This was an impulsive move by the servicer and the motion is being reset. The focus should be on Pinky righting her finances and growing her business to fund her plan of reorganization.”
Pinky, 38, is the founder of a popular plant-based burger and fries chain she started in Atlanta before expanding to a total of 14 locations at the brand’s peak popularity.
She became a Peach Holder on “The Real Housewives of Atlanta” at the start of season 17, which premiered this April. She is married to Derrick Hayes, the founder of Atlanta chain Big Dave’s Cheesesteaks.
Also new on the cast this season was singer K. Michelle. They were joined by returning cast members Porsha, Phaedra, Drew, Shamea, Angela, and Kelli. Cynthia, who first appeared in season 3 after moving from NYC to Atlanta, is back after a four year break.
Pinky Cole Recently Talked Business Bankruptcy & Lessons Learned
In a Breakfast Club appearance a few months ago, Pinky cited a previous clip where she said, “Do not put anything under your personal name” as one of her most crucial pieces of advice. She explained that in 2022, her company got valued at $100 million just 3 years after opening its first permanent location.
“When you grow that fast, sometimes you put basketball players on the golf course,” she said, alluding to the fact that everyone involved might not necessarily have been in the right position to best utilize their skillset.
She said as a result, her company landed in $20 million of debt. and started “drowning” despite raking in “double digit millions” in revenue. “If you payroll is high, and if you have all of these costs and everything is adding up, your bottom line is going to be red,” she warned.
After using an insolvency process called an Assignment for the Benefit of Creditors to clear the company’s dead, which involved selling the brand and rebuying it, she was pursued by creditors for the old debts due to the fact that she’d signed things in her personal name. She says the experience taught her that “smart entrepreneurs know” you should not hold assets in your personal name.
The mom of three said the rumors that have swirled since her business woes have shown her that “people on the internet don’t read” and attach too much meaning to a “salacious headline,” but assured the interviewers that she’s secure withs herself and ready to “keep it moving.”
In September 2025, Pinky announced she’d decided to start franchising the business and embraced her “comeback story.”
Pinky Cole Is Expecting a Baby in December
Pinky and Derrick are currently the parents of three small children, and baby number four will be here soon!
In August, she showed off her blooming belly and asked fans to guess the gender.
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Pinky Cole’s Attorney Clears Up Foreclosure Reports: ‘Not Pinky’s Home’