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.