---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-25-014561"
form_type: "8-K"
ticker: "GTIM"
cik: "0000825324"
company_name: "Good Times Restaurants Inc."
filed_at: "2025-10-03T23:59:59+00:00"
generated_at: "2026-05-17T04:52:41.782863+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Good Times closes 2 Bad Daddy's units; lender relaxes leverage covenant to 5.65x

## Summary
- Closure of Bad Daddy's in Roswell, GA and Broomfield, CO; lease terminations with $250k maximum EBITDA addback.
- Consolidated Leverage Ratio covenant raised to 5.65:1 for quarters ending Sep 2025 through Mar 2026, then 5.25:1.
- Restricted period through Dec 29, 2026 bans dividends, share repurchases, and other restricted payments.
- EBITDA phased addbacks of $280k (Sep 2025), $210k (Dec 2025), $140k (Mar 2026), $70k (Jun 2026) from closures.
- Applicable Rate fixed at 3.25% (SOFR) and 2.25% (Base) for fiscal quarters through Jun 2026, then performance-based.

## SEC filing metadata
- accession: 0001214659-25-014561
- form_type: 8-K
- ticker: GTIM
- cik: 0000825324
- company_name: Good Times Restaurants Inc.
- filed_at: 2025-10-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/825324/000121465925014561/0001214659-25-014561-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/825324/000121465925014561/u1022508k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-25-014561
- JSON: https://secwatch.observer/filing/0001214659-25-014561.json
- Plain text: https://secwatch.observer/filing/0001214659-25-014561.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.