Good Times Announces New Bad Daddy’s Sites
GOLDEN, Colo. -- August 19, 2013
Good Times Restaurants Inc. (NASDAQ: GTIM) today announced that through its
wholly owned subsidiary, BD of Colorado LLC, it has signed the first two of
several Bad Daddy’s Burger Bar locations that are planned for the Denver and
front-range of Colorado market.
“We are gearing up our expansion for both company owned and franchised Bad
Daddy’s restaurants and are thrilled to get our first two deals in the
pipeline,” said Boyd Hoback, President and CEO. “The first store will be in
Cherry Creek North and the second will be in a new development at 120^th & I25
in Northglenn and we are negotiating on several other sites in the market. The
Northglenn site will feature a very cool rooftop bar and patio with great
views of the mountains and, while the restaurants are still subject to final
design and permitting, we are excited about their potential given the dynamics
of both trade areas. We plan to use the majority of the proceeds from our
recently announced public offering for the development of Company owned and
franchised Bad Daddy’s restaurants as we continue our momentum in our core
Good Times brand with reimaging and remodeling of older restaurants.”
The Company said that there are three Bad Daddy’s Burger Bar restaurants under
construction in North and South Carolina that are scheduled to be open by
November this year. Including the two Colorado sites, the number of Bad
Daddy’s operating will double this year and the Company hopes to more than
double the total number operating again next year with company-owned and
franchised restaurants developed.
Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant
concept operating mostly in inline locations featuring a chef driven menu of
gourmet signature burgers, chopped salads, appetizers and sandwiches with a
full bar and a focus on a selection of craft microbrew beers in a high energy
atmosphere that appeals to a broad consumer base. Bad Daddy’s has received
both local and national accolades for the quality and originality of its food
and was most recently named a top 25 burger in the U.S. by USA Today. There
are four restaurants open and a fifth in the Charlotte airport operated by HMS
Host with the three additional restaurants under construction.
About Good Times Restaurants Inc.
Good Times Restaurants Inc. (GTIM) is a regional chain of quick service
restaurants located primarily in Colorado providing a menu of high quality all
natural hamburgers, 100% all natural chicken tenderloins, fresh frozen
custard, fresh cut fries, fresh lemonades and other unique offerings. Good
Times currently operates and franchises 39 restaurants.
Good Times Forward Looking Statements
This press release contains forward looking statements within the meaning of
federal securities laws. The words “intend,” “may,” “believe,” “will,”
“should,” “anticipate,” “expect,” “seek” and similar expressions are intended
to identify forward looking statements. These statements involve known and
unknown risks, which may cause Good Times’ actual results to differ materially
from results expressed or implied by the forward looking statements. These
risks include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans, delays in
developing and opening new restaurants because of weather, local permitting or
other reasons, increased competition, cost increases or shortages in raw food
products, and other matters discussed under the “Risk Factors” section of Good
Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2012
filed with the SEC. Although Good Times may from time to time voluntarily
update its forward looking statements, it disclaims any commitment to do so
except as required by securities laws.
Good Times Restaurants Inc.
Boyd E. Hoback, President and CEO, 303-384-1411
Christi Pennington, 303-384-1440
Booke & Co. (firstname.lastname@example.org)
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