LAKEWOOD, Colo.--(BUSINESS WIRE)--Good Times Restaurants Inc. (NASDAQ: GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick service restaurant chain focused on fresh, high quality, all natural products, and of Bad Daddy’s Burger Bar, a full service, upscale concept, today announced that it has entered into leases for four new locations in Colorado that are slated to open by the end of 2015. The locations are the Landmark in Greenwood Village, the Streets at Southglenn shopping center in Englewood, the Southwest Plaza Mall redevelopment in Littleton and the Village at the Peaks shopping center in Longmont.
Boyd Hoback, President & CEO said “Each of these four locations is very dynamic and matches up well to our criteria for upper middle income residential, upscale retail co-tenancy, high daytime employment and significant traffic generators for the area such as movie theaters and retail anchors. Two of our three existing Bad Daddy’s continue to generate amongst the highest average weekly sales in the system, and we are optimistic for the sales at these four locations based on similar site characteristics. Our Streets at Southglenn location will also have a rooftop bar and patio providing a unique amenity for the area, similar to our Northglenn location, which is on pace to generate over $3.5 million in sales its first year."
The Company said that it is in final lease negotiations on two additional sites in Colorado for development in early 2016 and is evaluating and negotiating several other sites in North Carolina, South Carolina and Colorado for 2016 development. Hoback added, “We plan to fill in our existing company owned and joint venture markets in and around Charlotte, Raleigh, Winston Salem and the front range of Colorado and with our existing franchisee in South Carolina in 2016 and then move into additional new markets in 2017 and beyond.”
About Good Times Restaurants Inc.: Good Times Restaurants Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc. Good Times provides 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 38 restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants. There are currently 13 company owned, joint ventured, franchised and licensed Bad Daddy’s open. Bad Daddy’s is a full service, upscale, “small box” restaurant concept 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.
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 the Company’s 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/A for the fiscal year ended September 30, 2014 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.