All five of the Alamo Drafthouse theaters in the Dallas-Fort Worth area closed on Thursday after the Austin-based movie chain’s franchise owner, Two Is One,...
Hundreds of employees will be impacted by the closures, which include one in Minnesota, according to a press release from franchise owner Two is One, One is None LLC.All five of the Alamo Drafthouse theaters in the Dallas-Fort Worth area were closed on Thursday after the Austin-based movie chain’s franchise owner, Two Is One, One is None LLC, filed for bankruptcy. The theaters were located in Richardson, Las Colinas, Lake Highlands, Dallas and Denton.
In a press release Thursday, the franchise cited poor “industry-wide economic performance” in its decision to seek bankruptcy protection. The company also said theatergoing numbers across the industry have not rebounded to their pre-pandemic levels. Contractual obligations required the company to keep open “even the most unprofitable locations,” it said.
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